(MENAFN- Bangladesh Monitor)
Dhaka: The government has increased prices of fuel effective from August 6.
At the consumer level, the retail prices of diesel and kerosene within 40 km of fuel depots is now BDT 114 per litre. Octane per litre is BDT 135 and petrol is BDT 130, said the Energy Division.
Price of diesel and kerosene was BDT 80 per litre till August 5, which was BDT 65 in October.
State Minister for Power, Energy and Mineral Resources Nasrul Hamid said, 'The Awami League government always takes decisions considering the comfort and convenience of the people. As long as it was possible, the government did not think about increasing the prices of fuel.”
“However, in this situation, the government has adjusted the fuel prices finding no other alternatives. In April 2016, the government reduced the prices of fuel. When the situation improves, prices will be revised accordingly.'
According to a notification from the Power, Energy and Mineral Resources Ministry, 'Due to the rise of oil prices in the global market, several countries, including our neighbours, regularly adjust fuel prices. India has fixed the price of diesel at Rs 92.76 per litre and petrol at Rs 106.03 per litre in Kolkata from May 22, which still exists.”
“In Bangladesh it stands at BDT 114.09 and at BDT 130.42 respectively. In comparison to Kolkata, Bangladesh sold diesel at a lower price of BDT 34.09 per litre and petrol at BDT 44.42. Increasing the price was a matter of time.'
'It is to be noted that Bangladesh Petroleum Corporation incurred a loss of BDT 8,014.51 crore in the last six months (from February 2022 to July 2022) in fuel sales (all products),” said the notification signed by Mir Mohammad Aslam Uddin, Deputy Chief Information Officer of Ministry of Power, Energy and Mineral Resources.
“At present, due to the international oil market situation, reasonable price adjustment has become essential to keep the import activities of BPC normal,' it added.
Legal Disclaimer: MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.