Fuel prices continued to increase and premium diesel price has increased over 3,000 kyats per litre, according to fuel stations.

The fuel prices on August 24 are sold at 2,440 kyats per litre for 92 Ron, 2,525 kyats per liter for 95 Ron, 3,000 kyats per litre for diesel and 3,080 kyats per litre for premium diesel.

Gasoline prices dropped 10 kyats per litre yesterday, but it is rising 50 kyats per litre.

The diesel prices have not dropped and it is continued to increase.

Fuel prices have increased after the exchange rate increases by the Central Bank of Myanmar to 2,100 kyats per US dollar.

On August 5, the Central Bank increased the rate of exchange rates to 2,100 kyats US dollar, which has changed for the first time after more than four months.

Myanmar is not importing fuel from China via Sri Lanka and mainly imported from Singapore, Malaysia and South Korea. About 90 per cent of fuel consumption is imported for domestic consumption, with about 10 per cent of the country's production in the country.

Maj-Gen Zaw Min Tun, spokesperson for the State Administration Council said about 1.3 million gallons of fuel are unloaded in Thilawa port and about 12 fuel tankers will enter within days.

Similarly, Myanmar is planning to buy fuel oil from Russia and a steering committee for import, storage and distribution of fuel oil was formed to purchase fuel from Russia. The fuel would arrive at the end of August, said Senior General Min Aung Hlaing, Chairman of the State Administration Council.