In a move aligned with global market trends, the government has revised fuel prices, resulting in a reduction of Tk0.75 per litre for diesel and kerosene, Tk3 for petrol, and Tk4 for octane.
Effective this Friday, the Ministry of Power, Energy, and Mineral Resources, through a gazette notification issued on Thursday, announced the new pricing structure. Diesel and kerosene now stand at Tk108.25 per liter, down from Tk109, with kerosene aligning with diesel to prevent adulteration.
Octane has experienced a price drop from Tk130 to Tk126 per litre, while petrol has seen a decrease from Tk125 to Tk122 per litre.
Under a new automatic system based on the international market, fuel prices will be adjusted every first week of the month, starting from now on.
It’s noteworthy that the government had set diesel and kerosene prices at Tk109 per litre, petrol at Tk125, and octane at Tk130 on August 29, 2022. Earlier in the same year, on August 5, there were substantial fuel price hikes, ranging from 42-52%.
At the consumer level, retail prices surged to Tk114 per litre for diesel and kerosene, a significant 42.5% increase from Tk80 per litre. Octane’s price rose to Tk135 per litre from Tk89 per litre, and petrol was set at Tk130 per litre, marking a 51% increase from Tk86 per litre.
The government’s decision to adjust fuel prices monthly based on global market rates aims to reflect the fluctuations in international fuel prices. If prices rise globally, adjustments will be made accordingly in the country, and vice versa, as per the notification.
