Mawlamyine, June (7)
Diesel prices in Mon State jumped to approximately Ks 2,600 per liter in the first week of June, the fuel suppliers told Than Lwin Times.
On May 31, the price of a liter of premium diesel climbed from 2,405 kyats to 2,575 kyats on June 6, while the price of ordinary diesel rose from 2,375 kyats to 2,545 kyats per liter in less than a week, increasing about 170 kyats per liter.
Russia’s invasion of Ukraine and European countries’ ban on Russia’s oil led to a shortage of fuel, and it is difficult to purchase fuel in every country.
Petrol prices are expected to rise even more in the coming months, according to a fuel market analyst.
“The European countries banned Russia from exporting oil, which exacerbated oil prices in almost every country. Oil prices have risen due to the country’s scarcity of dollars, including the global and Myanmar crises,” said the expert.
In Myanmar, only about 10 percent of the demand for fuel is produced domestically, and the remaining 90 percent is imported.
Therefore, the prices of domestic fuel are changing depending on the global oil prices, according to the Petroleum Products Regulatory Department.
With skyrocketing prices across the country, some stations are experiencing fuel shortages, and some have even closed.
Fuel prices have quadrupled from around Ks 600 per liter before the military coup to more than Ks 2,500 per liter afterward.
News – Than Lwin Times
Thanlwintimes