HOUSE OF THE WEEK
Three-storey Mayangone villa
MAYANGONE township is the setting for this three-storey villa with oodles of space and mainstream taste. The pillar- and balcony-heavy façade gives a strong indication of what lies inside- more
Diesel price continues to climb
(Volume 26, No. 507)
SUPPLY shortages have pushed up the price of diesel by 10 percent compared to last month, local dealers and consumers say.
The January 18 price of K165,000 per barrel compares with last December’s price of K150,000. Demand for diesel usually rises at this time of the year because of a surge in transportation activity, said U Win Thein, a dealer at the Bayintnaung diesel market.
“The wholesale price might vary as much as 13pc between the high and low seasons,” he said. However, this year the supply has failed to match the increased demand, he said.
Last year, the government changed its policy to allow private companies to acquire licences to import fuel.
World oil prices have also risen, from US$72-73 per barrel towards the end of last year to the current price of about $80. The retail price this week is K3400 per gallon, up from December’s K3100.
The government price is about K2500 for gasoline and K3000 for diesel, but the supply is limited to 2 gallons per person per day, and the price varies with the FEC exchange rate.
“Diesel consumption in Yangon was running at 40,000 barrels per month, and now it is probably more,” U Win Thein said.
