Minister for Power, Energy and Mineral Resources Iqbal Hassan Mahmood Tuku on Sunday said the government has raised fuel prices only to a limited extent, even as global oil prices have surged sharply in recent months.
Speaking to reporters, the minister noted that the ongoing volatility in international energy markets has significantly increased Bangladesh’s import costs.
According to him, the government has had to spend an additional $2 billion to procure fuel amid the current global situation.
He said global fuel prices have nearly doubled compared to pre-war levels, putting considerable pressure on the country’s finances. Despite this, the government has refrained from making proportionate adjustments to domestic fuel prices in order to reduce the burden on consumers.
“We are trying to balance the situation. While global prices have risen steeply, we have increased domestic prices only marginally, considering the difficulties faced by the public,” he said.
The minister added that the government continues to provide subsidies and absorb a large share of the increased import costs to stabilise the energy market and protect the broader economy from further shocks.
Revised fuel prices came into effect nationwide on Sunday. Under the new rates, petrol prices have been increased by Tk19 per litre, octane by Tk20 and diesel by Tk15 per litre.
Following the adjustment, octane is now being sold at Tk140 per litre, petrol at Tk135 and diesel at Tk115. The price of kerosene has also been raised, reaching Tk130 per litre.
