Domestic fuel prices rise by three percent in ten days

Published 3 July 2019

Sithu Aung

Global oil prices reached US$59 per barrel (14 percent increased within three weeks) making domestic fuel prices to rise by around three percent within ten days, according to fuel stations.

The global oil prices reached nearly US$66 per barrel on April 23, decreasing to around US$59 and 51 per barrel on May 28 and June 12 respectively. After that the fuel prices went up again from mid June and reached to US$59 per barrel on July 1.

Domestic fuel prices increased from Ks160 to 255 per liter within about six months (from early January to the end of May) from 18 to 36 percent depending on the kinds of fuel. It was reduced from May 30 to June 21 from 11 to 14 percent depending on the kinds of fuel as global oil prices declined. It increased again from June 21 due to the global oil surge.

Domestic fuel prices in July 2 are as per following: Ks927 per liter for diesel (Ks4,205 per gallon), Ks935 per liter for premium diesel (Ks4,250 per gallon), Ks815 per liter for 92 Ron (Ks3,705 per gallon) and Ks905 per liter for 95 Ron (Ks4,114 per gallon). It is increased by Ks30 per liter compared with fuel prices on June 21. It is increased by 2.97 percent for diesel, 2.94 percent for premium diesel, 3.68 percent for 92 Ron and 3.04 percent for 95 Ron within ten days.

Global oil prices went up to US$76 per barrel on October 3, 2018 and decreased to US$42 per barrel on December 24. It is reached to US$54 per barrel on January 21, US$52 per barrel on January 29, US$60 per barrel on March 20, US$64 per barrel on April 16, US$66 per barrel on April 23, US$51 per barrel on June 12 and US$59 per barrel on July 1.

Domestic fuel prices increased for over 21 percent within four months (from June to October) when exchange rates and global oil prices increased. It is reached to Ks1,095 per liter for diesel, Ks1,105 per liter for premium diesel, Ks1,065 per liter for 92 Ron and Ks1,115 per liter for 95 Ron on October 10, 2018.

Domestic fuel prices in January 3 are as per following: Ks850 per liter for diesel (Ks3,859 per gallon), Ks855 per liter for premium diesel (Ks3,881 per gallon), Ks670 per liter for 92 Ron (Ks3,041 per gallon) and Ks730 per liter for 95 Ron (Ks3,314 per gallon).