Bangladesh has raised fuel prices by as much as 17.4%, with the new rates taking effect on Monday as higher global oil prices and shipping costs increase pressure on the country’s import bill.
Diesel has risen to Tk135 a litre from Tk115. Petrol is now Tk160 from Tk140, 95-octane gasoline Tk165 from Tk145, and kerosene Tk155 from Tk135, according to the Energy Ministry.
Reuters reported that this is the third fuel-price increase this year, following adjustments in April and June. The ministry said Bangladesh Petroleum Corporation lost Tk228.76 billion between March and August and estimated that the latest increase could reduce annual losses by around Tk100 billion.
Industry representatives have warned that higher fuel costs could add to transport and production expenses and intensify inflationary pressure, particularly for manufacturers already facing energy shortages.
Source: Reuters and the Energy Ministry. Image: file photo.