Domestic fuel prices surge

Ayeyarwaddy Times September 25 It has been learned that gasoline and diesel prices in the domestic fuel market have surged by 600 to 800 kyats per liter. From today, September 25, to October 1, the prices are set at 4450 kyats per liter for 92 octane gasoline, 4600 kyats per liter for 95 octane gasoline, 5795 kyats per liter for premium diesel, and 4790 kyats per liter for diesel. These prices are the benchmark prices in Yangon, according to the Committee for Supervising the Import, Storage, and Distribution of Fuel. Yesterday, September 24, fuel prices were 3825 kyats per liter for 92 octane gasoline, 3950 kyats per liter for 95 octane gasoline, 5050 kyats per liter for premium diesel, and 4150 kyats per liter for diesel. A Yangon resident stated that before the recent fuel price increase, some fuel stations had run out of fuel and were unable to sell it yesterday. "Prices always change on Thursdays, so yesterday (Thursday) they didn't supply fuel to the gas stations. They know the prices are going to rise, so they do things like this," he added. The interim government has stated that it will produce fuel from domestic oil refineries to save foreign exchange, as it is spending a large amount of foreign currency on fuel purchases. The current fuel policy restricts purchases to a certain number of liters per vehicle, differentiated by even and odd license plate numbers, using QR codes. Along with the Middle East crisis, the interim government has reduced fuel imports, citing fuel conservation, which has saved US$3 billion, according to interim President Min Aung Hlaing. Photo – Ayeyarwaddy Times