Bangladesh
Fuel Price Reduced Fuel prices reduced by Tk 5 per litre
Own Correspondent, Dhaka, August 30: The government has issued a gazette reducing the price of all types of fuel in the country by Tk 5 per litre.
The new prices of diesel, kerosene, petrol, and octane are effective from 12 midnight on Monday. According to the new prices, the government has reduced the price of diesel from Tk 114 to Tk 109 per litre, kerosene from Tk 114 to Tk 109, octane from Tk 135 to Tk 130, and petrol from Tk 130 to Tk 125 per litre.
In a press release of the Ministry of Power, Energy and Mineral Resources on Monday night, it was informed that the prices of diesel, kerosene, octane and petrol have been adjusted at the consumer level following the National Board of Revenue (NBR)'s announcement on Sunday (August 28) of exempting advance tax imposed on diesel and setting import duty at 5 percent instead of 10 percent until December 31.
It also said that after 12 midnight, the retail price of diesel at the consumer level within 40 km of the depot is Tk 109, kerosene Tk 109, octane Tk 130 and petrol Tk 125.
State Minister for Power, Energy and Mineral Resources Nasrul Hamid was quoted in the press release as saying that the price of fuel oil has been adjusted due to some tax reduction. Adjustments will be made again if the price of fuel oil decreases in the world market.
'According to Platts, the price of diesel per barrel on August 26 was 147.62 US dollars. Accordingly, the price of diesel per litre is Tk 128.61. That is, if diesel is sold at Tk 109, the loss of BPC will be Tk 19.61 per litre.'
The Ministry of Energy and Mineral Resources also said that Bangladesh Petroleum Corporation has made a loss of Tk 8014 crore 51 lakh by selling fuel in the last six months (last February to July).
