MYANMAR-Despite the abduction of businessmen, the price of fuel has been rising steadily these days, according to local shops.
Businessmen said that the military junta council has abducted businessmen, including money changers and fuel dealers, to keep the price of the dollar and commodities from rising, but the price continues to rise.
“The price of oil goes up every day. The military junta council may abduct and oppress businessmen to make the dollar exchange rate fall, but they can no longer lie about the price of fuel,” said a businessman.
On September 16, the reference price released by the military council is 2,440 Myanmar Kyats per litre of 92 octane. The price of 95 octane is 2,565 Myanmar Kyats per litre, diesel is 2,650 Myanmar Kyats per litre and premium diesel is 2,725 Myanmar Kyats per litre.
On September 1, one litre of 92 octane was 2,260 Myanmar Kyats, 2370 Myanmar Kyats per litre of 95 octane, one litre of diesel was priced at 2,415 Myanmar Kyats and 2,490 Myanmar Kyats per litre of premium.
This price has increased by at least 180 Myanmar Kyats to 235 Myanmar Kyats per litre within 15 days.
“The price of fuel may continue to rise. Even now, one litre price has exceeded 2,600 Myanmar Kyats,” said a gas station owner.
Currently, after the abduction of the businessmen by the military junta council, the dollar price and the price of gold have decreased slightly, but the price of commodities and fuel prices are still rising, according to the market rate.
There are reports that some of the military junta council’s oil traders have been abducted, and the businessmen said that most of the businessmen have fled to the safety of the military junta council. At the end of August and the beginning of September, hundreds of businessmen, including food and oil traders, dollar and gold traders, rice and corn exporters, have been abducted by the military junta council for allegedly raising commodity prices.