Mawlamyine, August (9)

The price of fuel oil has now soared to over 200 kyats per litre in Mon State, the suppliers told Than Lwin Times.

Premium diesel prices increased from over 2,000 kyats to 2,270 kyats per litre on August 6, while 95 kyats per liter prices increased from just over 1,700 kyats to over 1,900 kyats per liter on August 8.

A fuel trader said that the price of gas has risen because the Central Bank of the military council changed the exchange rate of the US dollar.

The Central Bank of the military council announced on August 8 that it has increased the exchange rate of one US dollar from 1,850 kyats to 2,100 kyats.

Due to the military council’s dollar restrictions and inability to purchase as much oil as required after the military takeover, there are frequent oil shortages and price volatility in the market.

The price of oil, which was just around 600 to 700 kyat per litre prior to the military coup, has more than tripled since the military coup.

Myanmar can only produce about ten percent of its fuel needs domestically, and the remaining 90 percent is imported from abroad. News – Than Lwin Times

Leave a Reply

Your email address will not be published. Required fields are marked *