MT News
There is enough fuel oil in Myanmar and the government has allowed importing over 230,000 tons of fuel oil in September, and currently, ports in Yangon are busy unloading more than 246 million gallons of fuel oil for distribution, according to Fuel Oil Import, Storage and Distribution Supervisory Committee.
The petroleum stations halted selling the fuel oil and sold the fuel within limitation of time and amount in April, 2022. So, the Ministry of Commerce formed the Fuel Oil Import, Storage and Distribution Supervisory Committee to steer the fuel oil sector effectively not to have a shortage of oil in the domestic market and to ensure price stability and qualification of imported fuel.
The committee compiled the Standard Operation Procedures-SOPs and submitted the fuel oil imports to Foreign Exchange Supervisory Committee during the meeting. 80,499 tons of petroleum and 153,095.60 tons of disel were allowed to import within September.
Therefore, there is enough local fuel oil and MT Yu Dong vessel were unloading 51.17 million gallons of disel, 60.39 million gallons of premium disel, MT Yu Hai vessel 42.33 million gallons of 92 Ron, 92.25 million gallons of disel at the terminals of Thilawa ports in Yangon.
The committee is issuing the daily reference price for fuel oil and the reference rate is set on the MOPS’s price assessment, premium issurance, tax, profit, transport charges and other general cost. Although the domestic fuel price declined within a week, the prices were slightly high today due to increasing of MOPS’s price.
Authorities have steered the fuel oil imports from border areas with the permissions of relevant state government bodies to meet the needs of fuel oil for some regions/states. But, the deliveries of fuel oil to petroleum stations are delayed as armed terrorist groups attacked and robbed the fuel bowsers and fuel barge.
