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Highway van service providers tolerating fuel price spike

The price of diesel hit a record high of K3,000 per litre of diesel in the retail market on 24 August 2022, U Aung Zaw, a truck owner, told the Global New Light of Myanmar (GNLM). On 24 August, fuel prices were K2,440 per litre of Octane 92 and K2,525 per litre of Octane 95. There was a price gap of K355 per litre between Octane 92 and Diesel on 7 August. Then, the gap widened to K560 per litre on 24 August. On 22 August, Octane 92 was priced at K2,400 while diesel was worth K2,820 per litre. The figures indicated a rise of K40 for Octane 92 and K180 for diesel against the rates recorded on 24 August.

The prices of diesel tremendously rose from K8,944 per gallon on 7 August to K13,620 per gallon on 24 August. The ferry service for the 200-mile-long Yangon-Mawgyun trip hiked the price up to K6,000 per passenger. Furthermore, the frequency of ferry service dropped this month as only one ferry is running. When two ferries ran last year, the passenger was charged only K2,000, the GNLM quoted Ma Khin Khin Aye, a passenger from Mawgyun, as saying. The freight charge for the Yangon-Pyapon ferry trip increased from K200 to K300 per rice bag, U Ohn, an operator of a double-decker elaborated.

Similarly, 48-mile-long Yangon-Kyaiklat ferries also raised the ferry ticket price from K3,000 to K4,000 last month. Freight costs also doubled from K500 to K1,000 per basket of goods such as eggs, coconut and banana, Daw Aye Than, a seller of eggs, coconut and banana from Kyaiklat told the GNLM. On 23 August 2022, fuel retail prices per litre in Yangon stood at K2,390 for Octane 92, K2,480 for Octane 95 and K2,865 for diesel. On 24 August, Octane 92 price was up by K50, while the diesel price showed a big jump by K135. In spite of the fuel price rises, the prices of highway van services that use Octane remain unchanged. Highway van operators reported that a passenger is charged K10,000 for a Yangon-Mawgyun trip and the price stays the same. Nonetheless, transport costs of diesel-fuelled trucks and ferries are higher due to the price hike of diesel, highway truck operators and ferry commuters said. 

Source: The Global New Light of Myanmar

Natural gas export bags over US$800 million from April to July

The export of natural gas from Myanmar to neighbouring countries such as China and Thailand earned over US$800 million during the four months of this 2022-2023 financial year, stated the Ministry of Commerce. From 1 April to 31 July, 77.89 million kilo of natural gas were exported through gas pipelines and earned $819.503 million.

Myanmar received $135 million in April, $194 million in May, $286.033 million in June and $204.47 million in July, respectively. Natural gas was exported mainly by the four offshore natural gas production projects which are Yadana, Yedagun, Shwe and Zawtika natural gas production projects. In April 2022, the country earned $289.9 million from natural gas exports and $229.2 million in April 2021. Comparing the same period in the previous year, the income from natural gas export exceeds $60.7 million.

During the six months of the 2021-2022 financial year from October to March (mini-budget period), more than $1,715 million were collected from natural gas exports, and the monthly export was the highest in November, according to the Ministry of Planning and Finance. In the mini-budget (from October to March) period of the 2021-2022 financial year, $280.2 million in October, $300.8 million in November, $274.2 million in December, $279.5 million in January, $290.2 million in February and $290.3 million in March, totalling $1,715.2 million were received by natural gas exports.

Source: The Global New Light of Myanmar

Yangon to host 7th tourism exhibition

The seventh tourism exhibition will be held in Yangon in September 2022 to revive domestic tourism,
which is suspended amid the Covid-19 pandemic. Myanmar Tourism Entrepreneurs Association held tourism-related exhibitions to promote tourism development. A total of six events were convened before the Covid-19 pandemic. Plans are underway to hold the seventh tourism exhibition in September.

Normally, the tourism season in Myanmar starts in October and the tourism companies used to sell programmes for domestic and international tours in September. This exhibition will take place at LOTTE hotel in Yangon on 17 and 18 September 2022 and is open to anyone.

Travellers will have the chance to observe and buy domestic and foreign tour programmes. As a special programme, discounted tours will also be exhibited. In the exhibition, information on countries tourists can visit, visa information and restrictions will be available. Flight tickets and tours will also be on sale at special prices during the travel fair by relevant airlines and travel agencies.

Source: The Global New Light of Myanmar