Myanmar Fuel Prices Hit Record High as Chaos Follows New Junta Caps

Fuel prices in Myanmar surged to their highest level since the 2021 coup on Friday as gas stations again ran dry.

The price of premium diesel in Yangon jumped overnight from 4,820 kyats to 6,085 kyats (about US$ 1.30) per liter. Octane 95 rose from 3,850 to 4,975 kyats, while Octane 92 increased from 3,610 to 4,450 kyats, according to regime-controlled media.

Octane 95 was selling at 765 kyats, Octane 92 at 655 kyats, and premium diesel at 705 kyats per liter in January 2021, just days before the putsch.

The regime's Energy Minister tightened fuel controls again on Tuesday, limiting motorists to two refueling trips (45 liters) per week as shortages driven by war in the Middle East deepened.

Taxis were permitted 110 liters, trucks 150, micro/minibuses 110 and tractors 250 liters per week, with buses, ambulances and other public vehicles exempted.

However, the latest restrictions failed to quell chaos at gas stations, with reports of vehicles queuing for hours or even overnight for fuel that runs dry a few hours after the pumps open.

The regime initially imposed an odd-even rationing system on March 7, allowing private cars to refill on alternate days. It remains unclear whether that system is still in effect.

A Yangon taxi driver said the soaring fuel prices and hours-long waits at gas stations had hit his income so hard that it was no longer worth staying on the road.

"I had to stop working for two days," he said. "The price of octane is now nearing 5,000 kyats and there are still limits on how much we can buy. All we can do is monitoring the situation and hope it improves."

The fuel shortages is also impacting other sectors, doubling transportation costs, with a knock-on effect on basic necessities. Agriculture is also suffering as tractors run out of fuel needed for harvesting and replanting.

However, the fuel crunch has not dampened the regime's campaign of deadly airstrikes on civilian targets. While domestic airlines have cut flights amid a shortage of aviation fuel, the junta has launched a series of bombing raids, deploying up to eight warplanes per sortie and killing dozens of civilians.

The regime has kept its jets flying by confiscating fuel from civilian airlines and bypassing international sanctions, Blood Money reported on Thursday.

The financial watchdog called on ASEAN, the EU, UK and other international bodies to cut off the regime's access to jet fuel supporting ongoing war crimes against civilians.