Fuel oil prices slashed by Tk1

The government has revised fuel oil prices for the month of May, keeping them unchanged throughout March and April.

The prices have been slashed by Tk 1 per litre which will be effective from May 1, the Ministry of Power, Energy and Mineral Resources said today (April 30).

From now on, diesel will cost Tk 104, kerosene Tk 104, octane Tk 125 and petrol Tk 121 per litre.

Bangladesh has been revising fuel oil prices under the automatic pricing system in line with the international market. The prices are raised if they go up on the global market and slashed if they fall.

Earlier, on the first day of February, the price of diesel and kerosene per liter was increased by Tk1 from Tk104 to Tk105. The government had increased the price of octane by Tk1 and petrol by Tk1.

The notification said that the government has been automatically setting the price of fuel oil since March last year in line with the world market. Accordingly, the government announces new prices every month. However, after the government took office, the price of fuel oil has reduced in some months and kept unchanged in some months. On the other hand, it has increased in some months.

The interim government adjusted the price of fuel oil for the first time on August 31 last year. On that day, the price of petrol and octane was reduced by Tk6 per liter for the month of September and the price of diesel and kerosene by Tk1.25 per liter.

In the price fixing in October, the price of diesel and kerosene was reduced by 50 paisa per liter in November, but the price of petrol and octane was kept unchanged. And in the price adjustment announcement on the last day of December, the selling price of diesel and kerosene was reduced by Tk1 per liter. Petrol was kept at Tk121 and octane at Tk125 as before.