Local fuel prices see continuous fall over a week

Local fuel prices see continuous fall over a week
Published 5 October 2019
Sithu Aung

 

Local fuel prices decreased again by K40 per liter in nine days as global oil prices went down to around US$52 per barrel on October 4, according to local filling stations. 

Global oil prices jumped to US$76 per barrel on October 3, 2018. They then fluctuated. They were around US$42 on December, US$54 on January 21 this year, US$64 per barrel on April 16 this year, US$66 on April 23, US$51 on June 12, US$60 on July 10, US$51 on August 7, US$53 on September 3, US$62 on September 16 and US$52 on October 4. 

Local fuel prices increased by K160 to K255 per litre in nearly six months from January to May this year 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. As from August 15, local fuel prices increased a little. 

On October 4 in local market, maximum prices available at local filling stations were K920 for one liter of diesel (K4,182 per gallon), K930 for one liter of premium diesel (K4,227 per gallon), K825 for one liter of 92 Ron octane (K3,750 per gallon) and K915 for one liter of 95 Ron octane (K4,159 per gallon). Prices decreased by K40 per liter compared to the prices available on September 25.