(Phnom Penh): Cambodian Prime Minister Hun Manet instructed the Ministry of Commerce, the Ministry of Mines and Energy, and the Ministry of Economy and Finance to closely monitor fuel price fluctuations and ensure that domestic fuel prices remain stable. He also urged fuel station owners not to raise prices unnecessarily.

The premier spoke on Friday (Mar. 6) at the closing ceremony of the National Authority for Combating Drugs annual conference, held at Sokha Phnom Penh Hotel.

“The Ministry of Commerce, the Ministry of Mines and Energy, and the Ministry of Economy and Finance must closely monitor data and changes in global oil prices. I assigned this responsibility to [Energy Minister] Keo Rottanak from the beginning, and [Commerce Minister] Cham Nimul is also working on this matter,” said the premier.

According to the prime minister, authorities must also review the country’s fuel reserves and maintain price control measures, noting that some fuel stations have already raised prices.

The situation comes amid growing global uncertainty after transport companies, major oil corporations, and traders temporarily suspended shipments of crude oil, fuel, and liquefied natural gas (LNG) through the Strait of Hormuz. The move followed Iran’s announcement of a full closure of the maritime route in response to attacks by the United States and Israel.

Around 20 percent of the world’s oil supply, including production from Saudi Arabia, the United Arab Emirates, Iraq, Kuwait, and Iran, as well as significant LNG exports from Qatar normally pass through this critical shipping route.

On the occasion, Samdech Thipadei Hun Manet warned that if oil-producing countries temporarily halt exports under such conditions, it could lead to global supply shortages and increased pressure on fuel prices worldwide.
=FRESH NEWS