Government keeps fuel prices unchanged for August

The government has decided to keep fuel prices unchanged for August, maintaining the current retail rates for diesel, kerosene, octane, and petrol.

According to a notification issued by the Ministry of Power, Energy and Mineral Resources on Thursday, the existing prices will remain effective from 1 August. Under the revised schedule:
Diesel: Tk 115 per litre
Kerosene: Tk 135 per litre
Octane: Tk 145 per litre
Petrol: Tk 140 per litre

The government said that although global fuel prices have remained on an upward trend, no price adjustment will be made in the domestic market for August. Fuel prices were also kept unchanged in June and July, following the last revision on May 13.

Bangladesh has been operating an automatic fuel pricing mechanism since March last year, under which domestic fuel prices are reviewed and announced every month in line with international market trends.

The Bangladesh Energy Regulatory Commission (BERC) also sets LPG prices on a monthly basis using the same principle.

According to the Bangladesh Petroleum Corporation (BPC), the country consumes around 7.2 million tonnes of fuel annually, with diesel accounting for approximately 75% of total demand.

Diesel is primarily used in agriculture, transportation, and power generators, while the remaining demand is met through petrol, octane, kerosene, jet fuel, and furnace oil.

Currently, the prices of diesel, kerosene, petrol, and octane are determined by the Energy and Mineral Resources Division, while BERC is responsible for setting the prices of jet fuel and furnace oil.