Bangladesh raises fuel prices by around 35 per cent

DHAKA: In the wake of rising prices of petroleum fuel on international market, the Bangladesh caretaker government on Monday raised prices of all types of petroleum fuels by about 35 percent with immediate effect.

An Energy Ministry release said the price of per liter of octane was fixed at 90 taka from earlier 67 taka while price of petrol was fixed at 87 taka instead of 65 taka. Diesel and kerosene prices were raised to 55 taka from 40 taka respectively and price of furnace oil was enhanced to 30 taka from 20 taka per liter.

The price of per bottle of Liquefied Petroleum Gas (LPG) was raised to 1,000 taka from 600 taka.

The prices of different gasoline were last raised in April 2007. Earlier in May this year, the government raised the price of compressed natural gas (CNG).

About the latest rise in the petroleum, chief advisor’s Special Assistant for Power and Energy Ministry Dr. M Tamim said that the government had no alternative but to raise the prices to reduce the revenue losses.

Xinhua,