Fuel Stock

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Bangladesh has 30 days' diesel, 19 days' octane in stock

Chairman of Bangladesh Petroleum Corporation (BPC) ABM Azad said these things in a press conference organized at the head office of Bangladesh Petroleum Corporation in Karwan Bazar of the capital on Wednesday (August 10) in the context of the increase in the price of fuel.

BPC Chairman said that since the first week of August, BPC is spending Tk 120 per liter of diesel. In this case, a loss of Tk 6 per liter has to be paid. But Octane is profiting like Tk 25.

He said that the price of oil has not been increased for development projects. The price of petrol and octane depends on the crude oil. Petrol and octane prices have to be increased for strategic reasons.

He also said that from the financial year 1999-2000 to the financial year 2013-14, the energy sector had to count continuous losses, amounting to about Tk 53,005 crore. In exchange of subsidies in this sector, the government has paid Tk 44,877 crore to BPC at various times. At that time there was another deficit of about Tk 8,127 crores, which was later reconciled with the profits of BPC.

ABM Azad said, now the international market is increasing the abnormal price of fuel oil and it has been maintained till now. In January 2022, our purchase cost per barrel was 96.95 dollars. When we cost it per litre, it comes to Tk 83.6 per litre. At that time, BPC was selling at Tk 80. There was a loss of Tk 3 per litre.

He said, again in February when per barrel was 108 dollars 55 cents in the international market, if it is converted to taka per liter it is 89 taka 85 paisa. Even then BPC sold at 80 taka per liter. Due to this, a loss of Tk 9 had to be counted in that month.

In this formula, the price per barrel was 139.43 dollars last July, if converted to taka per liter, the cost would be 122 taka 13 paisa. Still, that oil was sold at 80 taka. In this way, the price of oil increased and the loss per liter reached 42 taka 13 paisa in July.