Petrol, Diesel, Octane and Kerosene prices raised by Tk20 per litre

Government has raised the prices of petrol, octane, diesel and kerosene by Tk20 per litre, according to a notification issued by the Ministry of Power, Energy and Mineral Resources on Sunday night. The revised prices will take effect from midnight on Sunday.

Under the new rates, diesel will sell at Tk135 per litre, up from Tk115. Kerosene will cost Tk155 per litre, compared with Tk135 previously.

Petrol will now sell at Tk160 per litre, up from Tk140, while octane will be priced at Tk165 per litre, compared with Tk145 earlier.

The ministry said prices of all types of fuel oil and freight charges in the international market had risen since March because of the ongoing war in the Middle East, and the upward trend was continuing.

The government said it had not raised domestic fuel prices in the public interest despite international fuel prices more than doubling. Bangladesh Petroleum Corporation (BPC) incurred losses of about Tk22,875.66 crore between March and August as a result, the ministry said.

According to the government, diesel currently costs Tk134.76 per litre in Kolkata, India; Tk164.83 in Myanmar; Tk161.24 in Nepal; Tk179.42 in Sri Lanka; Tk151.22 in Thailand; Tk137 in Vietnam; Tk140.71 in the Maldives; Tk168.53 in the Philippines; Tk185.48 in Pakistan; and Tk144.79 in the United Arab Emirates.

The ministry said BPC was currently losing about Tk89 on every litre of diesel at prevailing international market prices, resulting in daily losses of around Tk109 crore. Annual losses from diesel alone could reach nearly Tk40,000 crore if the trend continues.