Fuel prices exceed K2,000 on 11 August

In the first week of August, the price of 92 fuel was around K1,600 per litre, and on 11 August, it rose to K2,140, which increased by more than K540 in four days, according to the reference prices of the Fuel Import, Storage and Distribution Supervisory Committee.
After the shortage of some types of fuel in the market on 7 August, the prices of (premium) diesel and Octane 92 Ron skyrocketed when the market opened yesterday.
In the Yangon fuel market, 92 Ron per litre was only K1,615 on 7 August, and it reached K2,140 on 11 August.
According to the reference price of the Fuel Import Storage Distribution Supervisory Committee, 92 Ron is reaching K2,180 to K2,720 per litre in Yangon, Mandalay, Nay Pyi Taw, Bago, Magway, Dawei, Monywa, Pathein, Hpa-An, Mawlamyine, Myitkyina, Sittway, Lashio, Taunggyi, Loikaw, and Kengtung.
According to the reference price of fuel published yesterday by the Fuel Import, Storage and Distribution Supervisory Committee, the retail price of 92 Ron per litre in the Yangon Region is K2,140, and 95 Ron is K2,210 per litre, while one litre of HSD (500 ppm) was set at K2,440.
Similarly, HSD (50 ppm) and HSD (10 ppm) were set as K2,515 per litre as reference retail prices for motor oil.
In addition, the Fuel Import Storage Distribution Supervisory Committee’s reference wholesale price of motor fuel in the Yangon region is K2,038 per litre of 92 Ron, K2,108 for 95 Ron, K2,331 for HSD (500 ppm) and K2,440 for HSD (10 ppm).
Fuel shortages are occurring in cities of Shan, Mon, and Kachin states. There have been delays in extracting oil even in Yangon where fuel oil storage tanks are located.
Currently, fuel prices are calculated based on the MOPS price by the Fuel Import, Storage and Distribution Supervisory Committee, and if consumers are not satisfied, they can report to the committee. — TWA/GNLM