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Ministry plans to stabilise fuel oil price

In an attempt to control rising fuel oil prices, eight State-owned fuel filling stations will directly sell fuel at a fair price as of July 1, according to the Ministry of Electricity and Energy.

Rising fuel prices are coupled with an increase in the global fuel price and currency exchange rates. The ministry will sell gasoline produced by Petrochemical Factory (Thapayarkan) under Myanmar Petrochemical Enterprise (MPE), at a fair price, to small vehicles and motorbikes.

The eight fuel filling stations are: one in Nay Pyi Taw, three in Yangon, two in Mandalay, one in Bago and one in Taungoo.

In order to reduce rising fuel oil prices in local market, the Ministry of Electricity and Energy distributed three million gallons of gasoline at a price of Ks-3200 per gallon, to Myanmar Fuel Oil Importers and Distributors Association, at the end of April, according to the ministry.

Source: Eleven Myanmar

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