Domestic fuel oil market sees price fluctuation

Fuel prices are volatile in the domestic market, with a one-day increase of over K100 per litre on 11 August and a price slump on 12 August.
Fuel prices were K2,195 per litre of Octane 92, K2,310 for Octane 95, K2,360 for diesel and K2,440 for premium diesel on 10 August and then, the prices rose to K2,310 per litre for Octane 92, K2,420 per litre for Octane 95, K2,500 for diesel and K2,575 for premium diesel on 11 August.
Fuel prices stood at K2,285 per litre of Octane 92, K2,395 for Octane 95 and K2,460 for diesel on 12 August.
Although the prices recorded on 12 August showed a small decrease compared to that of 11 August, those prices are still up by K90-100 per litre from the price of 10 August, Ko Hla Myint, who comes to the petrol station, told the Global New Light of Myanmar (GNLM).
The prices will remain unchanged until 14 August due to office holidays.
The retail reference price of fuel oil for Yangon dropped to K1,795 per litre of diesel on 4 May 2023 and peaked at K3,245 per litre on 31 August 2022.
The price of Octane 92 also plunged to K1,615 per litre on 7 August 2022 and K2,615 on 31 August 2022.
The fuel oil is imported to meet local demand. They can be purchased at retail reference price, the energy consumers mentioned.
Despite the price fluctuation, energy consumers can buy them at reference prices.
High fuel prices force energy consumers to cut the consumption of generators and fuel oil in vehicles in the Yangon Region. — TWA/EM