Fuel prices reduced by Tk 5 per litre

The Energy Division has reportedly decided to reduce the price of diesel, octane, petrol and kerosene by Tk5 per litre. 

A government notice in this regard is expected to be issued soon. The new prices will be effective from Monday night. 

After the price cut, diesel price will come down to Tk109 per litre, octane to Tk130, petrol to Tk139 and kerosene to Tk109 per litre respectively. 

State Minister for Power, Energy, and Mineral Resources Nasrul Hamid confirmed the decision to the media on Monday.

However, Energy and Mineral Resource Division Deputy Chief Information Officer Mir Mohammad Aslam Uddin said, There has been a proposal for the Tk5 reduction in each litre of fuel. 

“However, it is not confirmed until the gazette is out,” he said. 

Earlier in the day State Minister for Power, Energy and Mineral Resources Nasrul Hamid said “Fuel price adjustment is being considered due to a reduction in tax on fuel import. However, the matter is still under review. Hopefully, change can be brought.” 

The state minister also highlighted that prices in the international market are increasing.  The government on Sunday slashed import duties on two key essentials – diesel and rice – by over 10% in a move to tame soaring commodity prices.

The Internal Resource Division under the Ministry of Finance issued two separate statutory regulatory orders in this regard on Sunday.

With the reduction, the duty on diesel imports comes down to 22.75%. On 5 August, the Energy and Mineral Resources Division hiked the diesel price by 42.5% and octane price by 51%.

The price of diesel increased by Tk34 to Tk114 per litre, octane by Tk46 to Tk135 and petrol by Tk44 to Tk130 per litre.

The price of kerosene was also increased by 42.5pc to Tk114, in the across-the-board raise.