Diesel price tumbles near to seven-month low in late March

The current retail price of diesel dropped to a seven-month low in late March, said a truck owner.
On 22 March, the retail prices were up by K75 per litre for Octane 92 and K60 for diesel.
On 7 August 2021, the prices stood at K1,615 per litre of Octane 92 and K1,970 for diesel. On 21 March 2023, retail reference prices for Yangon Region were K1,815 per litre of Octane 92, K2,050 for Octane 95, K2,000 for diesel and K2,080 for premium diesel. The current diesel price is near the low price recorded seven months ago. Meanwhile, the Octane price is still up by K350 per litre compared to that recorded in August 2021.
At present, transportation sectors see launching ceremonies of Electric Vehicles (EVs). It could cut fuel consumption to a certain extent.
Following the dip in world crude oil prices, fuel oil prices sank to below K2,000 per litre. Diesel prices plunge so the freight forwarding businesses save some cost.
The public is a little unknown of the price decline. Nonetheless, those engaged in the transportation sectors and agriculture industries blamed the price increase of fuel oil along with other inputs such as fertilizer. — TWA/EM