Diesel price hikes by Tk 34, petrol Tk 44 and octane Tk 46

The government has increased price of diesel by Tk 34, petrol Tk 44 and octane Tk 46.

As per revised rate, kerosene and diesel will be sold at Tk 114 per litre, petrol at Tk 130 and octane at Tk 135.

The new price will come into effect after 12 am, said a press statement of Ministry of Power, Energy & Mineral Resources on Friday.

A press statement issued by Mir Mohammad Aslam Uddin, Deputy Chief Information Officer at Ministry of Power, Energy & Mineral Resources, said the prices of the fuels refined by Bangladesh Petroleum Corporation (BPC) and Eastern Refinery Limited (ERL) are adjusted with the international market.

About the issue, State Minister for Power and Energy Nasrul Hamid said “Awami League government always takes any decision considering welfare of the common people. The government refrained from hiking fuel price as long as it could afford. Now, the government has no alternative to adjusting the fuel price. In April 2016, the fuel price came down in the local market. If normalcy is restored, such situation may recur again.”

Citing example of other countries, the energy ministry said the neighbouring India already adjusted fuel price. Diesel price jumped to Rs  92.76 (Tk 114.09) and petrol to Rs 106.03 (Tk 130.42) per litre in Kolkata with effect from May 22, 2022.

BPC counted loss Tk 8014.51 crore in the six months, said the news release, claiming the decision to hike the fuel price is time-befitting one to prevent smuggling.