Local fuel prices increased by Ks 140 to Ks 200 per liter over the past four months as global oil prices continuously increased

Local fuel prices have continued to increase by K140 to K200 per liter over the past four months as global oil prices reach about US$64 per barrel although Myanmar Kyat against dollar sees little fluctuation with the current value of just over K1,500, according to local filling stations.

On April 18 in local market, maximum prices were K990 for one liter of diesel (K4,500 per gallon), K1,000 for one liter of premium diesel (K4,546 per gallon), K860 for one liter of 92 Ron octane (K3,910 per gallon) and K930 for one liter of 95 Ron octane (K4,228 per gallon). In comparison with the prices on January 3 this year, prices of one liter of diesel have increased by K140 (16.47 percent), one liter of premium diesel by K145 (16.95 percent), one liter of 92 Ron octane by K190 (28.35 percent) and one liter of 95 Ron octane by K200 (27.39 percent).

Since the second week of October in 2017, oil prices per barrel had significantly increased with US$49 in early August, US$51 in early October,  US$55 in early November, US$58 in early December, US$61 in early January this year, US$64 in early February, US$68 in late April, US$72 on May 21, and US$74 on July 10. The price decreased to US$69 on August 7 and US$65 on August 20. But it increased again to US$67 on September 10, US$70 on September 21 and US$76 on October 3. The price decreased to around US$42 on December 24, and reached around US$45 on December 27. However, prices gradually increased again with US$54 on January 21, US$57 on February 22, US$60.23 on March 20 and US$64.05 on April 16.

When dollar price against Myanmar Kyat and global oil prices increased in four months from June to October 2018, local fuel prices increased by over 21 percent.

(Eleven Media Group: https://elevenmyanmar.com/news/local-fuel-prices-increase-by-k140-k200-per-liter-in-over-four-months )

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