Dhaka, Sep 21 (V7N)- State Minister for Power, Energy and Mineral Resources Anindya Islam Amit has said the government was forced to adjust fuel prices due to the ongoing crisis in the Middle East.
He made the remarks at a press briefing at the Secretariat on Monday, explaining that rising international oil prices, shipping costs and marine insurance premiums had increased the cost of fuel imports.
Amit said the government would not have taken what he described as an unpopular decision had it not been necessary under the prevailing circumstances.
The state minister said fuel prices in Bangladesh had remained lower than those in neighboring countries, creating a risk of petroleum products being smuggled across the border. He said the latest adjustment was also intended to address that risk and reduce pressure on the Bangladesh Petroleum Corporation.
Under the new rates, diesel is being sold at Tk 135 per litre, while octane costs Tk 165, petrol Tk 160 and kerosene Tk 155. The revised prices took effect on September 21, with all four products increasing by Tk 20 per litre.
Amit compared Bangladesh's latest diesel price with rates in neighboring countries, saying domestic prices cannot always be adjusted directly in line with international market prices.
He also said the government continues to provide subsidies in the fuel sector despite the price adjustment. The government had kept domestic fuel prices unchanged for as long as possible while absorbing losses caused by higher international costs.
The state minister said maintaining various social welfare programmes was another reason behind the decision to adjust fuel prices.
He added that Prime Minister Tarique Rahman had instructed the relevant ministries to ensure that the impact of the fuel price increase on the public remains within a tolerable range.
END/SMA/AJ
