Myanmar’s military regime doubled benzine and diesel prices at state-run petrol stations on Wednesday, and hiked the price for compressed natural gas by 200 per cent.

The surprise fuel hike forced about 60 per cent of the city buses, reliant on compressed natural gas, to stop operations on Wednesday.

Most buses were back on the road on Thursday and Friday after they doubled fares from 50 kyat (0.04 dollars) to 100 kyat (0.08 dollars), passengers said.

Inevitably, the fuel price hikes have affected commodity prices at Yangon markets.

Shoppers said the price of rice, the food staple in Myanmar, had risen by 16 per cent, while vegetable and fruit prices had doubled by Friday.

As of Friday there were no reports of protests against the sudden fuel price hike, believed to be nationwide.

Myanmar has been under military rule since 1962, when General Ne Win staged a coup against elected prime minister U Nu and launched the country along the disastrous “Burmese Way to Socialism.”

Mass anti-military demonstrations in 1988, sparked by the country’s dire economic circumstances, forced the leadership to scuttle it socialist platform and open the economy up to foreign investment and market forces.

But a brutal military crackdown on the pro-democracy movement in the same year cut Myanmar off from all forms of international aid and discouraged foreign investments in the pariah state.

The military’s decision to stage a general election in 1990, and then to ignore the outcome after the opposition National League for Democracy Party led by Aung San Suu Kyi won a landslide victory, solidified Myanmar’s pariah status in the world community.

Myanmar has been suffering double-digit inflation since 2005 after the government increased civil servants pay to placate their discontent over being forced to move from Yangon to the new capital of Naypyitaw, 350 kilometres to the north.