Saturday 10, December 2022

Fuel oil prices may increase next month: Nasrul Hamid

News Desk: State Minister for Power, Energy and Mineral Resources Nasrul Hamid has said that the government is considering a hike in petroleum prices from next month.

“But the decision will come after discussion with all stakeholders including transport business operators,” he told on Friday.

He said the state-owned Bangladesh Petroleum Corporation (BPC) has been incurring a loss of Tk 90 crore per day. Adjustment may come in the price of diesel and octane.

“To offset this loss we have to consider the adjustment in the fuel price. Neighbouring India has already adjusted the price by raising Rs 50 per litre,” he added.

About the BPC’s huge profit of about Tk 50,000 crore in the last seven years, the state minister claimed that the profit has already been adjusted with the loss.

The government last raised the prices of diesel and kerosene to Tk 80 per litre from Tk 65 with effect from November 4, 2021.

Meanwhile, Finance Minister AHM Mustafa Kamal on Wednesday said a decision on raising the petroleum prices will come soon.

“You will get informed whenever the decision is made,” he told reporters while virtually briefing on the outcomes of the two consecutive meetings of the Cabinet Committee on Economic Affairs (CCEA) and the Cabinet Committee on Government Purchase (CCGP) on Wednesday.

He said the government always tries to bear the load when price of any product goes up in the international market.

“But when the cost goes up excessively, the government shares the load with people,” he said.

He, however, did not respond to information that the Bangladesh Petroleum Corporation has made a profit of about Tk 50,000 crore since 2015.


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