Energy update: Formula to adjust retail gasoline prices
Applicable Industries: Energy

The objective of an inter-ministerial proclamation, or prakas, endorsed on March 9, 2016 by Minister of Commerce Sun Chanthol, Minister of Economy and Finance Aun Porn Moniroth, and Minister of Mines and Energy Suy Sem, and obtained by the Ministry of Commerce, is to establish a formula that can be utilized to adjust retail gasoline prices in Cambodia in accordance with global market fluctuations. The fifth clause of the Prakas prohibits any retail gas station that sells petroleum products classified as regular or premium from doing so at a price that exceeds the amount calculated using the formula. Stations that fail to adhere to the stipulations outlined in the 5th Clause may face a penalty of up to 4 million Riel in fines, or face temporary closure of their operations.