Bangladesh Fuel Prices Stay Unchanged in November After September Hike
Bangladesh fuel prices will not change in November, the government has announced. The Energy and Mineral Resources Division issued a notification on 29 October keeping the rates set in September in force from 1 November.
Under the notification, Bangladesh fuel prices stay as they were: diesel at Tk 135 a litre and octane at Tk 165. Petrol remains Tk 160 a litre and kerosene Tk 155. Motorists, transport operators and farmers who rely on diesel will therefore pay the same as they did in October.
The rates took effect on 21 September, when the government raised all four fuels by Tk 20 a litre. Before that, diesel cost Tk 115, octane Tk 145, petrol Tk 140 and kerosene Tk 135. Officials linked that increase to higher international fuel prices and shipping costs tied to the conflict in the Middle East.
The state-run Bangladesh Petroleum Corporation, which imports and distributes fuel, has been under heavy financial pressure. It reported losses of more than Tk 22,800 crore between March and August because of higher import costs. The notification does not give a specific reason for holding prices steady this month.
The government has been setting rates month by month, so the next review is due before December. Whether Bangladesh fuel prices move then will depend largely on global oil prices and on how the situation in the Gulf develops.
Source: The Daily Star and The Business Standard (TBS)