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Dhaka Tuesday,  Oct 4, 2022

Fuel Prices To Go Up

The government has raised all types of fuel oil prices, which will be effective from the early hours of Saturday.

As per the announcement of Energy and Mineral Resources Division, the retail prices of diesel and kerosene at the consumer level within 40km of the fuel depot will be Tk114 per litre, octane Tk135 per litre, and petrol Tk130 per litre.

This matter was confirmed in a press release at 10pm on Friday.

The price of diesel and kerosene was last increased Tk65 to Tk 80 per litre on November 4, 2021.

The price of fuel oil increased again aftere eight months. However, petrol and octane prices were kept unchanged at that time.

However, diesel price per litre outside 40km of the fuel depot has been fixed at Tk106, kerosene Tk107, octane Tk124 and petrol Tk120.

The notification also said that, due to the increase in fuel oil in the world market, oil prices are regularly adjusted in various countries including neighbouring countries.

India fixed the price of diesel at Rs92.76 per litre and petrol at Rs106.03 per litre from May 22.

Experts said that increasing the price of fuel oil was the need of the hour due to the fear of oil smuggling.

Bangladesh Petroleum Corporation (BPC) made a loss of Tk8,014 crore in the sale of fuel oil (all products) in the last six months (from February 22 to July).

Incidentally, the discussion on increasing the price of fuel started last week. BPC repeatedly wanted to offer price hikes in the energy sector to cut their losses.

According to the notification, since the price of fuel oil in the world market is much higher than that of Bangladesh in the global context, BPC and Eastern Refinery Limited (ERL) have adjusted the price of refined and imported/purchased diesel, kerosene, octane and petrol at the consumer level.

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