Mawlamyine, July (15)

The gas suppliers told Than Lwin Times that they face losing profit because the military council controls the fuel market and determines the daily reference price for oil.

Fuel prices were previously set by gas stations based on imports and costs, but they have now been selling at the daily reference price set by the junta since the second week of May.

A trader said he was facing losses as prices fell again before the arrival of previously purchased fuel.

The junta announced that 82 gas stations in some regions and states that sell more than the set reference prices have been fined.

On the other hand, the military council has instructed companies and gas stations to report fuel shortages in time to prevent fuel shortages.

Fuel prices are based on the global oil market, as well as dollar restrictions in the country, resulting in market instability and huge losses, the experts said.

Myanmar produces only about 10% of its domestic fuel needs, with the remaining 90% imported.

News – Than Lwin Times

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