Fuel prices have nearly doubled in areas controlled by the Arakan Army (AA) in Arakan (Rakhine) State, sparking panic buying and stockpiling among residents and traders.

Indian-imported petrol jumped from 6,500 MMK per liter to 10,000 MMK, while Octane 92 now sells for 12,000 MMK per liter, up from 6,500 MMK.

Fuel traders cited the sharp increase to global market instability triggered by the ongoing Iran War. Prices in AA-controlled areas reportedly doubled within just one week, with further surges expected.

“As soon as fuel from India reaches Arakan, traders snap up the stock straight off the boats. Some are holding onto it to sell only when prices hit their peak. Even though the fuel prices in India haven’t jumped that much, every step along the supply chain is pushing the cost higher,” said a local fuel trader.

The cost of a single barrel of petrol surged from 1.3 million MMK last week to more than 2.1 million MMK, while diesel barrels climbed from 1.2 million MMK to over 2 million MMK.

Traders noted that while fuel prices in India have remained relatively stable, high transportation costs including trucking and motorboat fees to bring fuel into Arakan State have significantly driven up local prices.

“The price hike is crazy fast. It seems like every day it goes up. Yesterday I went to buy a barrel, and they said 1.8 million MMK. By the time I got to the market, only a few barrels were left, and now one barrel of Indian fuel is already over 2 million MMK. Small vendors like me have no choice but to sell at these insane prices,” said a female fuel retailer in Kyauktaw.

The ripple effects of the Middle East crisis are driving fuel prices higher across Myanmar, but in Arakan, the blow lands harder. Already weighed down by the junta’s relentless blockades and soaring commodity costs, residents said the latest surge was making the struggle of daily life even tougher.