Selling fuel oil at a loss is on-paper loss: MFOIDA

Source : Daily Eleven
View Count : 254
May 23, 2018

Selling fuel oil at a loss is no matter what a loss on papers though local fuel filling stations are selling fuel oil at over-4-per-cent-loss compared with the global fuel price, said Dr Win Myint, secretary of Myanmar Fuel Oil Importers and Distributors Association (MFOIDA).
        “Global fuel oil price has increased by Ks-118 per liter and the fuel oil price in the local market by Ks-108 a liter. According to the profit and loss ratio, April saw a 3.5-per-cent loss. Now a 4.23-per-cent loss is a paper loss,” he added.
        Some companies can sell fuel oil at a loss as they buy fuels at a low price. Other companies may face losses as they have to import fuels at a time when fuel prices are high. Only companies which imported fuels at low prices can generate profits, he continued.
        According to the calculation by Myanmar Fuel Oil Importers and Distributor Association, the landed cost for 95 gasoline is over Ks-905 per liter on May 17. The wholesale price for 95 gasoline is Ks-882 per liter and the retail price, Ks-870 per liter. The landed cost for 92 gasolines is over Ks-874 a liter. The maximum wholesale price for 92 gasoline Ks-840 per liter and the maximum retail price, Ks-845 per liter.
        The landed cost for premium diesel is over Ks-916 per liter. The maximum wholesale price for premium diesel is Ks-900 per liter and the maximum retail price, Ks-895 per liter.
        The landed cost for diesel is over Ks-901 per liter. The maximum wholesale price for premium diesel is Ks-885 per liter and the maximum retail price, Ks-880 per liter.
        Due to rising global fuel oil prices and greenback appreciation, fuel oil prices has increased by about Ks-100 per liter during one month, according to Myanmar Fuel Oil Importers and Distributor Association.



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