Myanmar imported fuel worth more than US$1.7 billion within the first eight months of this fiscal year (2017-2018), exceeding more than half of the amount in the same period last year, according to the Ministry of Commerce.
From April to November 24 this fiscal year, $1,774 million worth of fuel was imported, while the imported fuel last year amounted to US$885 million.
This year, diesel accounted for more than half of fuel imports. The value of diesel import amounted to $534 million last fiscal year (from April to November) and $1,093 million this year. Likewise, the value of petrol import was $351 million last year and $681 million this year.
According to local retail market prices on December 5, diesel price is K785 per litre, premium diesel price K805 per litre and octane 92 Ron K830 per litre.
In comparison with prices in August, current fuel prices have increased by over 16 per cent.
(US$1 is equivalent to about K1350)