image_6483441 (5)

Over 51 mln litres of fuel oil sold at fairer prices within one and half months: CAD

The Consumer Affairs Department stated that more than 51 million litres of fuel oil were sold at the subsidized rate between 22 September and 2 November 2021. Starting from 22 September, the total volume of fuel oil that is sold at very reasonable rates is equivalent to the amount that the oil importers directly purchased the foreign currency from the Central Bank of Myanmar, intending to offer fairer rates through the relevant association. Over 19 million litres of 92 Ron, 12 million litres of diesel and 18 million litres of premium diesel have been sold.

The fuel oil at the fairer price is available at 229 petrol-filling stations in Yangon, Mandalay, and Nay Pyi Taw cities and Mon, Shan, Kachin, Kayin and Rakhine states and Sagaing, Bago, Magway and Ayeyawady and Taninthayi regions. Consumers can complain about overcharging for fuel oil which is sold at the subsidized rate under the public distribution system. If any overcharging is found, the consumers can complain about it through the contact numbers 09664075683, 09664596327, 09687635943 and 09676320826 of the National Trade Facilitation Committee, (01250270) of Yangon Region Consumer Affairs Department and 09421006794 of the Myanmar Petroleum Trade Association.

The fuel oil was pegged at around at K590 per litre for Octane 92, K610 for Octane 95, K590 for diesel and K605 for premium diesel in early February 2021 in the domestic retail market. Then, it remarkably climbs up to K1,425 for Octane 92, K1,490 for Octane 95, K1,370 for diesel and K1,380 for premium diesel at present. There is a remarkable price gap of K700-800 per litre, according to the local fuel oil market. A dollar is worth K1,900 in the local forex market. Normally, Myanmar yearly imports six million tonnes of fuel oil from external markets, the Ministry of Commerce stated. 

Source: The Global New Light of Myanmar

Tags: No tags

Leave A Comment

Your email address will not be published. Required fields are marked *