The fuel prices are continued to rise, reaching a record high of Ks 2,600 per liter of gasoline in Yangon, according to fuel stations.

The price of gasoline sold on August 31 was Ks 2,605 per liter for 92 Ron, Ks 2,670 per liter for 95 Ron, Ks 3,330 per liter for premium diesel and Ks 3,245 per liter for diesel.

The price of gasoline sold on August 30 was Ks 2,570 per liter for 92 Ron, Ks 2,635 per liter for 95 Ron, Ks 3,335 per liter for premium diesel and Ks 3,255 per liter for diesel.

As a result, gasoline prices increased by Ks 35 per liter and diesel prices dropped by around five kyats per liter.

On August 27, 28 and 29, fuel prices did not fluctuate, but prices increased on August 30 from a stable price.

On August 7, the lowest price of gasoline was Ks 1,615 per liter for 92 Ron, Ks 1,665 per liter for 95 Ron, Ks 2,025 per liter for premium diesel and Ks 1,970 per liter for diesel. After that, the price of fuel increased continuously.

Fuel prices increased after the central bank increased the exchange rate to Ks 2,100 per US dollar.

On August 5, the central bank increased the exchange rate to Ks 2,100 per US dollar, changing the foreign exchange rate that had been set for more than four months.

Fuel is not imported from China through Sri Lanka, but from Singapore, Malaysia and South Korea mainly. For domestic consumption, about 90 percent of the fuel consumption is imported from abroad, and only about 10 percent can be produced locally.

About 1.3 million gallons of fuel are being unloaded at Thilawa Port, and about 12 more oil tankers will enter in the next few days, said Maj-Gen. Zaw Min Tun, spokesman for the State Administration Council.

Similarly, the government is planning to buy fuel from Russia, and fuel procurement and distribution committee has been formed. The fuel from Russia will arrive at the end of August, said Senior General Min Aung Hlaing, Chairman of the State Administration Council.