The government has increased retail prices of diesel, kerosene, petrol and octane for the month of May. The retail gas price for power plants was also hiked.
As per a gazette notification on the last day of April, the prices of diesel and kerosene was raised by Tk1 to Tk107 per litre from existing Tk106 while the price of petrol was set at Tk124.50 per litre from Tk122, up by Tk2.50 per litre and octane price was set at Tk128.50 per litre from Tk126, up by Tk2.50.
The new prices will come into effect from Wednesday.
The Energy and Mineral Resources Division set the new automated price through a gazette notification as per the government decision on Tuesday.
The first automated price came into effect on March 7.
Issuing the gazette notification in this regard, the Ministry of Power, Energy and Mineral Resources, in a clarification, said that the new prices have been in line with the prices of petroleum on the international market.
On March 1, the government issued a “Fuel Pricing Guidelines” through a gazette notification to set an automated price for the petroleum fuel across the country.
It said the local prices will go up and down in line with the international price and every month such prices will be announced by the government for one-month tenure.
Meanwhile, in a separate gazette notification the government also raised gas prices for power plants.
As per the notification, the power plants will pay Tk15.50 per cubic metre (each unit), up by Tk0.75 while captive power plants will pay Tk31.50 per unit, up by Tk0.75 until further order.The price will be effective from Wednesday, said the notification.
On March 31, the prices of diesel and kerosene were reduced by Tk2.25 per litre, setting the price at Tk106.
On August 5, 2022, to avoid the burden of subsidies due to the unusual increase in fuel prices in the global market, the prices of diesel and kerosene were increased by Tk34 per litre to Tk114.
The government set the price of petrol at Tk130 per litre after an increase of Tk44 and octane at Tk135 per litre after an increase of Tk46.
Later that same month, on August 29, the prices were reduced by Tk5 per litre, setting diesel and kerosene at Tk109, petrol at Tk125, and octane at Tk130.
Currently, in addition to setting fuel oil prices, the Bangladesh Energy Regulatory Commission (BERC) determines the prices of liquefied petroleum gas (LPG) every month in alignment with the international market. The Energy and Mineral Resources Division is determining the prices of fuel oil in a similar process.
