Domestic fuel prices in Myanmar were stable last week at around 2,100 kyat per liter and now it is learned that they fell slightly to below 2,000 kyat on 5 January.

The fuel price fell by about 100 kyat per litre as per the reference price set by the Fuel Import, Storage and Distribution Supervisory Committee on 5 January.

The reference petrol retail price for one week in Yangon starting from 5 January is 1,975 kyat per litre for 92 Ron and 2,045 kyat per litre for 95 Ron.

The reference wholesale prices are 1,877 kyat per litre for 92 Ron and 1,947 kyat for 95 Ron.

The retail price in market on Friday was 2,060 kyat per litre for 92 Ron and 2,120 kyat per litre for 95 Ron.

The Fuel Import, Storage and Distribution Supervisory Committee sets the weekly reference prices to regulate fair prices in the market by carrying out required calculations and inspections in the market.

The committee also announced that retailers and wholesalers must not manipulate or speculate on fuel prices in the market by fraudulent means, hoarding and overcharging on their commodities otherwise they will face charges in accordance with the Essential Commodities Act.