The government has increased the price of diesel, kerosene, petrol, and octane by Tk1 per litre effective from Saturday.
The Ministry of Power, Energy and Mineral Resources issued a notification on Friday announcing the revised fuel prices.
As per the new pricing, the cost of diesel and kerosene per litre has risen from Tk104 to Tk105. Octane has increased from Tk125 to Tk126 per litre, while petrol has gone up from Tk121 to Tk122 per litre.
Since March 2024, the government has been implementing an automatic fuel price adjustment mechanism in line with global market trends, announcing new prices every month.
In addition to fuel price adjustments, the Bangladesh Energy Regulatory Commission (BERC) sets the price of Liquefied Petroleum Gas (LPG) monthly in line with international market prices. The Energy and Mineral Resources Division follows a similar process to determine fuel prices each month.
According to the Bangladesh Petroleum Corporation (BPC), the annual demand for fuel is currently around 7.4 million tonnes, with approximately 75% of the total demand being for diesel. The remaining 25% is met through petrol, octane, kerosene, jet fuel, furnace oil, and other fuels.
Diesel is mainly used in agricultural irrigation, transportation, and generators.
The prices of jet fuel, used in aviation, and furnace oil, used in power plants, are regularly adjusted by the BPC. The Energy and Mineral Resources Division sets the prices for diesel, kerosene, petrol, and octane.
In neighbouring India, as well as in many developed countries, fuel prices are adjusted monthly.
Bd-pratidin English/Tanvir Raihan
