Mawlamyine, January (25)
With the rise in global oil prices, the price of fuel in Mon State has risen to more than 2,500 kyats per liter due to the high cost of transportation, the fuel supplier told Than Lwin Times.
The price of octane 95 in the second week of January was only around 2,100 kyats per liter, and now it has risen to almost 2,500 kyats, and the price of diesel has risen again from 2,300 kyats to more than 2,600 kyats.
The world oil price rose due to rising unemployment in the United States and the consequences of the Russia-Ukraine war, which prompted the price of oil to rise from around $76 to $82 per barrel.
A fuel trader concluded that the increase in the price of fuel depends on the increase in global oil prices and the decline in the value of the Myanmar currency.
Therefore, the price of fuel may remain high until the end of January and is unlikely to decrease, he said.
On the other hand, a taxi driver claimed that the increase in fuel prices has resulted in a decrease in passengers and an imbalance between income and expenses.
Oil prices have risen from around 6,000 kyats per liter before the military coup to nearly four times higher after the coup, with price instability, and frequent shortages.
News-Than Lwin Times