Fuel prices have increased from Ks70 to 105 per liter due to the increase of global oil prices, according to fuel stations.
The global oil prices significantly increased since the second week of October 2017 and reached to US$73 per barrel globally on October 3 2018. It is significantly higher compared with the oil price, which is around US$49 per barrel, in early August 2017. It was decreased to around US$42 per barrel on December 24 and increased again to around US$45 per barrel on January 1, around US$54 per barrel on January 21, around US$52 per barrel on January 29 and around US$57 per barrel on February 22. The oil price was around US$56 per barrel on March 7.
Local fuel price increased to over 21 percent within four-month time from June to October and the highest record of fuel prices were Ks1,065 per liter for 92 Ron, Ks1,115 per liter for 95 Ron, Ks1,095 per liter for diesel and Ks1,105 per liter for premium diesel on October 10 2018.
On January 3 2019, the fuel prices were decreased to Ks670 per liter for 92 Ron, Ks730 per liter for 95 Ron, Ks850 per liter for diesel and Ks855 per liter for premium diesel.
Although exchange rates are gone down during January 2019, the fuel prices are increased due to the increase of global oil prices. The fuel prices in local market on March 7 are Ks740 per liter for 92 Ron, Ks835 per liter for 95 Ron, Ks930 per liter for diesel and Ks940 per liter for premium diesel.
The fuel prices in local market on April 12016 are Ks550 per liter for 92 Ron, Ks650 per liter for 95 Ron, Ks500 per liter for diesel and Ks540 per liter for premium diesel. They are increased to 94 per cent for 92 Ron, 72 per cent for 95 Ron, 119 per cent for diesel and 105 per cent for premium diesel in compared with the fuel prices on October 10 2018.
