Bangladesh Raises Fuel Prices Amid Soaring Global Oil Costs

The Bangladesh government has raised fuel prices by Tk20 per litre to ease the mounting subsidy burden amid soaring international oil prices. The Energy and Mineral Resources Division announced the new prices in a notification on Sunday night, with the revised rates taking effect from midnight.

Under the new pricing, diesel will cost Tk135 per litre, up from Tk115; kerosene Tk155, up from Tk135; octane Tk165, up from Tk145; and petrol Tk160, up from Tk140. The last major price adjustment was made in April, when diesel prices were raised by Tk15 per litre.

The Energy Division said prices of all types of fuel oil and freight charges in the international market have increased significantly since March due to the ongoing war in the Middle East, and the upward trend is continuing. Lower domestic fuel prices than international rates had increased the risk of smuggling to neighbouring countries, so the price hike aimed at curbing smuggling and saving foreign currency.