LOCAL fuel prices, which had
been stable for a month, are on
the rise in the market, according
to taxi drivers.
On 17 February, fuel prices
stood at K700 per liter for Octane
92, K790 for Octane 95, K885 for
diesel, and K895 for premium
diesel in the Yangon fuel market.
Although fuel prices had
been stable since 10 January,
the rates have increased slightly
beginning 15 February. The price
of Octane 92 has increased by K5
per liter this month compared to
“Local fuel prices usually
increase during the tour season.
Global crude oil price has also
increased these days. That’s why,
local fuel prices have also risen
marginally these days,” said a
fuel oil shop owner.
Local fuel prices continuously
declined from the end of
October to the first week of January
2019. The prices have begun
to rise now.
Myanmar imports 90 per
cent of its fuel oil, while 10 per
cent is produced locally.
The country mainly buys
fuel from Singapore, importing
200,000 tons of gasoline and
400,000 tons of diesel every
month. There are 2,000 petrol
stations and 50 oil importers in