High Fuel Prices as a Negative Impact of Dollar Appreciation
November , 2018

Local fuel prices have increased by over 19 percent over the past four months due to dollar appreciation, according to filling stations.

Transportation businesses, particularly taxi drivers suffer from high fuel prices. Prices of consumer goods has also gone up as a negative consequence of high fuel prices.

Maximum prices fixed by Myanmar Oil Importers and Distributors Association were 1,075 Kyats for one liter of diesel (4,887 Kyats per gallon), 1,085 Kyats for one liter of premium diesel (4,932 per gallon), 1,045 Kyats for one liter of 92 Ron Octane (4,750 Kyats per gallon) and 1,095 Kyats for one liter of 95 Ron Octane (4,977 Kyats per gallon) on October 8 in Yangon.

In comparison with the prices on June 3, prices have increased by 18.13 percent for diesel, 17.29 percent for premium diesel, 18.75 percent for 92 Ron Octane and 17.74 percent for 95 Ron Octane. Oil importers said local fuel price rates changed depending on global price rates and the exchange rate.