Nearly 3 million tons of fuel have been imported over the past eight months this fiscal year declining by nearly 1.3 million tons when compared to the same period of the previous year, according to the ministry of commerce. 

Myanmar imported 2.987 million tons of fuel worth US$1.407 billion from October 1 to May 28 in the current 2020-2021 fiscal year, said a ministry official. 

The same period of last fiscal year saw import of 4.284 million tons of fuel worth US$2.045 billion. 

Therefore, this year saw a decrease of 1.296 million tons worth over US$638 million. 

During the period this year, 1.796 million tons of diesel worth US$792.019 million were imported, declining by over 888,000 tons worth over US$450 million when compared to last fiscal year, ministry data showed. 

Likewise, 1.191 million tons of petrol worth US$615.380 million were imported, declining by over 400,000 tons worth over US$188 million. 

Myanmar imports around 6 million tons of fuel yearly. In the 2019-2020 fiscal year, over 6 million tons of fuel worth US$2.666 billion were imported. 

On June 14 in local market, fuel prices were Ks995 per litre of diesel, Ks1,005 per litre of premium diesel, Ks995 per litre of petrol (RON 92) and Ks1,080 per litre of petrol (RON 95), according to local filling stations. 

On February 3 in local market, fuel prices were Ks660 per litre of diesel, Ks670 per litre of premium diesel, Ks620 per litre of petrol (RON 92) and Ks750 per litre of petrol (RON 95), according to local filling stations, according to Myanmar Petroleum Trade Association.  

Comparison shows that local fuel prices have increased by 30 percent to 40 percent in over four months.