Awami League (AL) General Secretary and Road Transport and Bridges Minister Obaidul Quader said the government was compelled to increase fuel prices in the country due to the abnormal price hike in the global market.
"The government will adjust fuel prices again if its prices fall in the international market," he told a press conference Sunday at his official residence in the capital, reports BSS.
Quader said, the fuel price became volatile in international market due to Russia-Ukraine war, affecting the exchange rate of local currency against the US dollar.
That is why, he said, Bangladesh Petroleum Corporation (BPC) has to incur a huge loss.
He said, as the fuel prices were high in neighbouring countries, there was the concern of fuel smuggling from Bangladesh to these country.
Quader said, as a result of fuel price hike in the world market, the BPC incurred a loss of about Taka 9,000 crores from February 22 to July 22 this year and in this context, the government was forced to adjust the fuel price.
