The price of all types of fuel oil in Bangladesh has increased by 42 to 52 percent overnight.
The price of diesel and kerosene has been increased from Tk 80 to Tk 114 per liter. That is, the rate of increase in this price is about 42 percent.
The price of petrol per liter has been increased from Tk 86 to Tk 130. Octane price increased from Tk 89 to Tk 135. That is, the rate of increase in the price of petrol and octane is more than 50 percent.
The new price will be effective at the consumer level from 12:00 PM on Friday.
A government notification said that due to the increase in the price of fuel oil in the world market, the price increase has become necessary.
It has been said that Bangladesh Petroleum Corporation has incurred a loss of Tk 8014.51 crore in the sale of fuel oil in the last six months (from February 22 to July 2022) as a result of the price increase in the world market.
Kadir Kallol, a correspondent in Dhaka, says that long queues of cars and motorbikes are formed in front of the capital's petrol stations to buy fuel as soon as the news of the increase in fuel prices is heard.
Anti-Trafficking Argument
Apart from the high prices in the international market, the government notification said that to reduce the risk of oil smuggling in India, it was necessary to bring the price of fuel oil in Bangladesh to par with the neighboring countries.
It is said that India has fixed the price of diesel at Rs 92.76 per liter and petrol at Rs 106.03 per liter in Kolkata from May 22, 2022, which is Rs 114.09 and Rs 130.42 respectively in Bangladeshi taka.
State Minister for Power, Energy, and Mineral Resources Nasrul Hamid was quoted as saying in the circular, "There is a lot of uncertainty and some adjustments have to be made." He said, if the situation is normal, the price of fuel oil will be revised accordingly.
Shamsul Alam, vice-president of consumer rights organization CAB, told BBC Bangla that a one-off increase in fuel prices overnight would cause "horrendous misery" in the lives of ordinary people. He said it will have a major impact on all sectors including agriculture and transport.
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