Fuel pump prices decline upon news foreign investment in this sector

On the news of the entrance of more international players in the fuel retail market, Myanmar’s pump prices declined in early July, according to a report in Myawady Daily newspaper, yesterday.

Octane 92 and diesel prices declined from Ks720 to Ks670 a liter. Fuel prices at the pump correlated with lower prices at Myanmar’s ports. Retail price decline in this sector will likely to continue if the foreign investment in the sector increases, said a local importer.

Currently, most of Myanmar’s petroleum products are imported into the country through Singapore.

Source: The Global New Light of Myanmar

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