Fuel oil price hiked by big margin

The government hiked the price of fuel oil once again by a big margin, according to the power, energy and mineral resources ministry a press release issued on Friday.

It said diesel price has been increased by Tk 34 to Tk 114 per litre while octane price hiked by Tk 46 to Tk 135 and petrol by Tk 44 to Tk 130.

The price will be effective from Friday midnight.

Earlier in November last year, the government increased the price of diesel and kerosene by Tk 15 to Tk 80 per litre. Before that, the price of these fuels was Tk 65.

The release reads Bangladesh Petroleum Corporation (BPC) incurred loss of over Tk 8 billion in selling oil in last six months. Due to the current global market situation, reasonable price adjustment has become necessary to keep the import activities of BPC stable.

State minister Nasrul Hamid said the price will be reconsidered if the situation improves.