Myanmar maintains fuel supply with continuous tanker arrivals

Myanmar has sufficient supply of fuel, including reserve fuel, due to the continuous arrival of tankers, sources said.

It is reported that the Central Bank of Myanmar (CBM) is making efforts to purchase and pay enough foreign currencies for the fuel on time under the management of the Fuel import, Storage and Distribution Supervisory Committee.

As a result of this, tankers from abroad are constantly arriving, and fuel including reserve fuel can be adequately stored and distributed daily. It has been announced that domestic selling prices are continuously decreasing.

Fuel prices dropped on November 22, with an average drop of more than 50 kyats per litre of gasoline and diesel. On November 22, the price of fuel sold at gas stations in Yangon was 2,955 kyats per litre for 92 Ron, 3,150 kyats per litre for 95 Ron, 3,255 kyat per litre for premium diesel and 2,620 kyats per litre for diesel.

As a result, the price of fuel decreased by 55 kyats per litre for 92 Ron, 50 Kyat per litre for 95 Ron, 55 kyats per litre for premium diesel and 45 kyats per litre for diesel.

After the CBM announced that it will sell 35 million dollars in the foreign currency market to businesses that import fuel, the price of fuel fell slightly.

The CBM sold more than 94 million dollars, more than 12 million yuan and 323 million baht in 21 days. As for sales in November, the CBM sold more than 15 million dollars at the rate of 3,575 kyat per dollar, more than 1.5 million yuan and more than 100 million baht on November 4. On November 5, it was announced that 7 million yuan and 20 million baht will be sold to importers in the foreign currency market.

Similarly, the CBM sold nearly 9,000 dollars, 489,899 yuan and more than 1.2 million baht on November 6, 3,343 dollars, more than two million yuan and more than 21 million baht on November 7, 3,015 dollars and more than two million yuan on November 8, more than 800,000 yuan and 15 million baht to importers in the foreign currency market on November 11.