Cambodia sees 22 percent increase in imports of diesel fuel, petroleum oils
Date
7/16/2024 9:06:09 AM
(MENAFN) In the first half of 2024, Cambodia saw a significant increase in its imports of diesel fuel and petroleum oils, as reported by the Ministry of Commerce on Tuesday. The total value of these imports reached 1.27 billion U.S. dollars during the January-June period, marking a 22 percent rise from the 1.04 billion dollars recorded in the same period last year. The report detailed that Cambodia spent approximately 757.5 million dollars on diesel fuel and 512.5 million dollars on petroleum oils during this timeframe. This represents a 16 percent increase in spending on diesel fuel and a substantial 31 percent rise in expenditure on petroleum oils compared to the previous year.
Cambodia's complete reliance on imported diesel fuel and petroleum oils stems from the fact that the country's seabed oil reserves remain untapped. The Ministry of Mines and Energy has projected that the demand for oil products in Cambodia will grow significantly, predicting an increase to 4.8 million tons by 2030 from 2.8 million tons in 2020.
On Tuesday, the price of regular gasoline at gas stations was 4,300 riel (approximately 1.05 U.S. dollars) per liter, while diesel was priced at 4,200 riel (around 1.02 dollars) per liter. This rise in import values and fuel costs highlights Cambodia's growing energy needs and the economic impact of its dependency on foreign oil imports.
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