4 October 2022
The 92 Ron price in local market dropped to Ks- 1,950 per liter and other fuel oil prices fell by around Ks-100 after the Central Bank of Myanmar announced on 30 September that the fuel oil importers were able to pay for supplies in US dollar as well as Chinese Yuan, according to reference prices of Fuel Oil Import, Storage and Distribution Supervisory Committee on 3 October.
The fuel oil prices in Yangon were Ks-2045 per litre for 92 Ron, Ks-2115 per litre for 95 Ron, Ks-2460 per litre for disel and Ks-2545 per litre for premium disel on 1 October after fuel oil importers was allowed to pay for supplies in Chinese Yuan according to the decision of Foreign Exchange Supervisory Committee. The price of 92 Ron plunged again by Ks-15 per litre, Ks-35 for 95 Ron, Ks-115 for disel and premium, and petroleum price slightly dropped in other cities.
On 3 October, the fuel oil prices fell down to Ks- 1950 per litre for 92 Ron, Ks-2020 per litre for 95 Ron, Ks-2365 per litre for disel and Ks-2450 per litre for premium disel, a decrease of Ks-95 per litre each compared to previous days.
As the CBM has conducted required policy responses to alleviate the exchange rate, US dollar price has potential to fall down and reach to favorable rate gradually. Due to the effort of CBM, exchange rate which reached all-time high of Ks-4500 and Ks-5000 per dollar, dropped to between Ks-2500 and Ks-2800 on October 1 and 2 on spot market.
