After the start of the war between the United States and Israel with Iran, there was instability in the supply of fuel oil. When the prices in the world market increased a lot, the prices in Bangladesh were also increased in mid-April. After this, fuel oil prices were kept unchanged in May. However, the government increased the prices of three types of fuel oil for the month of June in the country's market.
This decision was announced in a notification sent by the Ministry of Power, Energy and Mineral Resources on Sunday (May 31).
According to the notification, the price of diesel per liter at the consumer level has been kept unchanged at Tk 115. The price of kerosene has been increased from Tk 130 to Tk 135 per litre, the price of petrol has been increased from Tk 135 to Tk 140 per liter and the price of octane has been increased from Tk 140 to Tk 145 per litre. The new prices will be effective from 12 midnight on Sunday.
Those concerned say that in the history of Bangladesh, the highest price of fuel increased in August 2022. After the Russia-Ukraine war, the price of diesel was increased by 42.5 percent to Tk 114. However, in the face of criticism, the price was reduced by Rs 5 in the same month. Fuel oil reached the highest price in the history of the country after the price hike last April. Now the prices of petrol, octane and kerosene have increased.
From March 2024, the government started automatic pricing of fuel oil in line with the global market. As such, new prices are adjusted every month taking into account the cost of fuel oil imported in the previous month. As in March, the government kept the prices unchanged at the beginning of April as well. However, from April 19, diesel is being sold at Tk 115, octane at Tk 140 and petrol at Tk 135.
Bangladesh Energy Regulatory Commission (BERC) determines the price of jet fuel used in aircraft and furnace oil used in power plants. And in the executive order, the price of diesel, kerosene, petrol and octane is fixed by the Department of Energy and Mineral Resources.
War broke out in the Middle East after the US-Israeli attack on Iran on February 28. This affects the supply of global fuel oil. There is also panic about the supply of oil in the country. Long queues at filling stations continue to grow. However, a day after the new prices came into effect, the supply of fuel oil was increased from April 20. After that gradually the crowd from the filling station reduced and the situation became normal.
