Government Forced to Raise Fuel Prices: State Minister for Energy
State Minister for Power and Energy Aninda Islam Amit stated that the government was forced to adjust fuel prices due to the crisis in the Middle East.
He made these remarks during a briefing at the Secretariat on Monday.
On Sunday night, the government increased fuel prices by 20 BDT per liter across diesel, octane, petrol, and kerosene, taking effect at midnight. Consequently, diesel rose from 115 to 135 BDT/liter, octane from 145 to 165 BDT/liter, petrol from 140 to 160 BDT/liter, and kerosene from 135 to 155 BDT/liter.
BPC Chairman Dr. Rafiqul Islam explained that global oil prices surged due to the Middle East conflict, forcing BPC to incur thousands of crores in monthly losses from purchasing at higher costs. Economists and energy experts warned that this hike will impact the economy, raise living costs, and increase consumer spending on fuel by 900 to 1,000 crore BDT monthly.
This price hike marks the second-highest increase on record. On August 6, 2022, the former government raised fuel prices by 42% to 51%, though diesel was later reduced by 5 BDT per liter following public outcry. Under the current government, prices were previously raised by 15% to 16.67% on April 18.
