Local fuel prices are increasing with over Ks1,120 per liter of 95 Ron octane, according to local filling stations.

On August 17 this year in the local market, maximum prices available at local filling stations were Ks1,105 for one liter of diesel, Ks1,055 for one liter of premium diesel, Ks1,105 for one liter of 92 Ron octane and Ks1,125 for one liter of 95 Ron octane.

The data released by Myanmar Petroleum Trade Association (MPTA) on February 3 showed that in the local market, prices were Ks660 for one liter of diesel, Ks670 for one liter of premium diesel, Ks620 for one liter of 92 Ron octane and Ks750 for one liter of 95 Ron octane.

Myanmar imports around 6 million tons of fuel yearly, according to the ministry of commerce.

A ministry official said 2.7 million tons of fuel worth US$1.2 billion had been imported over the past seven months this fiscal year, declining over 1 million tons when compared to the same period of last year.

This year, import of 1.66 million tons of diesel cost US$721.173 million while import of over 1 million tons of petrol was worth US$536.113 million.