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Govt Raises Fuel Prices

Representational Image

Representational Image

Starting from March, the government has been setting fuel prices automatically in line with the global market. Accordingly, new prices are being announced every month. After reducing prices in the first two phases, prices have increased in the subsequent two phases.

In the fourth phase, prices for June have seen an increase of 75 paisa per liter for diesel and kerosene, and 2.5 taka per liter for petrol and octane. The new fuel prices will take effect from June 1.

The Ministry of Power, Energy, and Mineral Resources issued a notification on Thursday (May 30) announcing the new prices.

According to the new rates, the price of diesel and kerosene has increased from 107 taka to 107.75 taka per liter. To prevent adulteration, the price of kerosene is kept the same as diesel. The new price for petrol is 127 taka per liter, and for octane, it is 131 taka per liter.

The guidelines for automatic fuel price determination were published on February 29. It states that octane and petrol are primarily used in personal vehicles in the country. The government-owned company BPC always makes a profit from selling octane and petrol. BPC’s profits and losses mainly depend on diesel. About 75% of the fuel used in the country is diesel.

BPC regularly adjusts the prices of jet fuel used in aircraft and furnace oil used in power plants. However, the prices of diesel, kerosene, petrol, and octane are determined by the Energy and Mineral Resources Division.

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