Cambodian govt calls for lower fuel prices

[Lite Beer]

Cambodian govt calls for lower fuel prices

PHNOM PHEN : -- The government of Cambodia has asked fuel retailers to lower petroleum prices, so as to reflect the drop in global prices in the last few months, The Phnom Penh Post reported.

At a meeting chaired by Chhoun Dara, a secretary of state at the Commerce Ministry, oil companies were given a week to report the mechanism they would use for a price drop, but were informed that if prices could not be cut another meeting would be called with senior officials.

Commerce Ministry spokesman Ken Ratha said the companies were expected to give the answer on Sept 8. If they did not respond, they might be called for another meeting.

The companies were given time to consult with their management team before reporting to the ministry.

Bin Many Mialia, marketing division manager at oil company PTT (Cambodia) said companies did not have a mechanism that was flexible enough to respond to daily price changes in the global market.

Meng Saktheara, spokesperson for the Ministry of Mine and Energy, said on Wednesday that he welcomed the initiative to get petrol companies to match their prices to those on the global market.

Last November, the government called on fuel retailers to fall in line with declining world oil prices, after oil dipped below $90 a barrel.

The Ministry of Commerce began meeting regularly with Cambodian petrol retailers in January to monitor pump prices as oil fell below $50 a barrel.

On Monday, the pump price of petrol was between 3,800 riel ($0.95) and 4,100 riel per litre.

Source: http://englishnews.thaipbs.or.th/cambodian-govt-calls-for-lower-fuel-prices

-- Thai PBS 2015-09-05

[kerrysum]

Guess I could agree with that, the price is always quick to rise, but in many cases so slow to come down. Any questions?

[geovalin]

Already posted here.

http://www.thaivisa.com/forum/topic/853360-govt-calls-for-lower-fuel-prices/

Usually Thai BPS takes more or less the PPP articles.