The government has decreased diesel and kerosene prices by Tk 2.25 per litre to Tk 106, effective immediately, under the automatic fuel pricing formula. However, octane and petrol rates remain unchanged at Tk 126 and Tk 122 per litre, respectively. The Energy and Mineral Resources Division issued a gazette on the revised petroleum prices. Introduced on March 7, the automatic pricing formula aims to regulate domestic oil prices monthly. Previously in March, diesel and kerosene prices were reduced by Tk 0.75 per litre, while petrol and octane saw cuts of Tk 3 and Tk 4 per litre, respectively. The formula ensures ‘no loss, no profit’ for the state-run Bangladesh Petroleum Corporation (BPC), considering various factors like international market prices and operational expenses. This move aligns with an IMF recommendation, a condition for a $4.7 billion loan, of which two tranches totaling $1.165 billion have already been received, with five more to follow until 2026.
BIZDATAINSIGHTS
Bizdata Insights is a Market Insights, Data Intelligence and Business Advisory Platform
Our Solutions
Menu
Newsletter
Sign up for our newsletter now by entering your e-mail address and never miss out on the latest news and updates from our team!