Xinhua, February 15, 2013
Oil prices in Cambodia hit the
highest of all time on Friday, with a liter of premium gasoline
going for 1.45 U.S. dollars at all petrol stations in the
capital.
The price is the highest ever if
compared with the peak price of 1.41 U.S. dollars a liter in 2008
and once again in last March.
Bin May Mialia, Commercial Manager
for Thai-based PTT Oil Company in Phnom Penh, said Friday that the
latest spike in oil price on international market resulted from
continuing political troubles in the Middle East, economic
recession in Europe and U.S. dollar currency depreciation.
"Just within the last two weeks,
oil price in Cambodia has increased by 4.5 percent," he said. "Oil
price hike in Cambodia is in line with the globally soaring oil
prices. We don't have our own produced oil, so we totally import it
from foreign countries."
Officials at the Ministry of
Finance could not be reached for comments on Friday. But Finance
Minister Keat Chhon said last year that the oil price increase
affected everyone and businesses in the country and recommended
people to tighten the purse strings and make maximum use of oil
they purchased.
On Friday, a barrel (159 liters) of
crude oil costs above 97 U. S. dollars in the international market,
up from 95 U.S. dollars in January.
Cambodia has completely purchased
petroleum from Vietnam, Singapore and Thailand. Last year, this
Southeast Asian nation spent about 1.62 billion U.S. dollars on
some 1.65 million tons of petroleum, according to a report of the
Commerce Ministry.
In December last year, Cambodian
Petrochemical Company and Sinomach China Perfect Machinery Industry
Corp unveiled a 2.3 billion U.S. dollar project to build the first
oil refinery in Cambodia and the construction is expected to be
completed at the end of 2015. Endi
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