Local fuel prices go up by Ks10-20 per litre

A local private filling station in Yangon.

Published 2 January 2020

Sithu Aung

Local fuel prices have increased by Ks10 to Ks20 per liter compared with the second week of December last year as global oil prices reach US$61 per barrel, despite falling dollar value against Myanmar kyat, according to local filling stations.

Global oil price jumped to US$76 per barrel on October 3, 2018. Then the price was down to around US$42 on December 24. In 2019, the price increased again to US$54 on January 21, US$52 on January 29, US$60 on March 20, US$64 on April 16, and US$66 on April 23. The prices decreased to US$51 on June 12 and increased to US$60 on July 10.

The price then decreased to US$53 on September 3 and increased to around US$60 on September 16. The price on October 28 was US$56 per barrel. Then the price reached US$57 on November 5, US$58 on November 29 and US$56 on December 4. The price was around US$61 from December 26 until January 1 this year.

On January 1 this year in local market, maximum prices available at local filling stations were Ks975 for one liter of diesel (Ks4,432 per gallon), Ks985 for one liter of premium diesel (Ks4,477 per gallon), Ks895 for one liter of 92 Ron octane (Ks4,023 per gallon) and Ks985 for one liter of 95 Ron octane (Ks4,432 per gallon). The prices increased by Ks10 to Ks20 per liter compared to those on December 13 last year.

Local fuel prices increased by Ks160 to Ks255 per litre in nearly six months from January to May in 2019 accounting for 18 percent to 36 percent. Then the prices were down 11 percent to 14 percent from May 30 to June 21. From June 21 to July 19, the prices increased again by 11 percent to 14 percent. The prices decreased by 3 percent to 5 percent from July 19 to August 10. From August 15 to September 25, local fuel prices increased again by 7 to 9 percent.

From September 25 to October 4, they fell again by over 4 percent. Again, fuel prices increased by over 4 percent from October 9 to 25 and decreased by about 1 percent from October 26 to November 5. Prices increased by Ks10 to Ks35 per litre from November 6 to 19 and by Ks25 to Ks35 from November 21 to 29. Prices went down again by up to Ks25 from November 29 to December. Then they went up by Ks10 to Ks20 from December 13 to January 1.