The Bangladesh Petroleum Corporation (BPC) anticipates over Tk500 crore in losses due to increased fuel oil import costs and reduced sales prices caused by a surge in the dollar exchange rate. The BPC imports 17-18 cargoes of fuel oil monthly and is the sole importer, distributor, and marketer of oil and petroleum products in the country. Despite lower demand following the Boro rice cultivation season, it supplied 1,83,646 tonnes of fuel oil in the first 11 days of May.
An automated fuel pricing mechanism considers international market prices, exchange rates, and operational expenses. BPC faces outstanding foreign debt of around $400 million, with additional costs for delayed payments. To prevent fuel hoarding amid expectations of price increases, BPC plans to limit supply, adjusting to reduced demand in various sectors. Despite international price decreases, local prices are expected to rise due to the increased dollar exchange rate. BPC has implemented measures to monitor and prevent stockpiling, ensuring fair distribution and pricing of fuel oil.