Fuel prices rise by Tk 20 per litre

The prices of diesel, kerosene, petrol and octane have each been increased by Tk 20 per litre. According to a notification issued on Sunday by the Energy and Mineral Resources Division, the new rates took effect on Monday.

Diesel now costs Tk 135 per litre, kerosene Tk 155, petrol Tk 160 and octane Tk 165. These are the highest fuel prices ever recorded in Bangladesh. Previously, diesel sold for Tk 115, kerosene for Tk 135, petrol for Tk 140 and octane for Tk 145 per litre.

The hike is expected to raise costs in the transport, agriculture and goods-hauling sectors and may also push up prices of essential commodities.

The division said international fuel prices and freight charges have risen sharply since March because of the ongoing conflict in the Middle East, and the upward trend continues. Although global prices more than doubled, domestic rates were not fully adjusted in order to protect the public. As a result, the Bangladesh Petroleum Corporation (BPC) incurred a loss of Tk 22,875.66 crore between March and August.