The Bangladesh Petroleum Corporation (BPC) has been seeing Tk20 Crore loss each day as the global price for petroleum fuels surge.
BPC is proposing to set the price on a monthly basis which currently the Energy and Mineral Resource Division (EMRD) does by considering the global market. The fuel is selling at $93 for every barrel which used to be $43 per barrel back in October 2020. If this continues, BPC stated that it has to incur Tk7,000 to Tk8,000 Crore every year. BPC will import 4.650 million MT as refined oil and 1.200 million MT as crude oil for the fiscal year of 2021-2022.
BPC fears its good quantity of diesel will be smuggled to India for which a letter has been sent to the district commissioner to intervene.