Saturday, 4 December, 2021

Explanation of the Department of Energy and Mineral Resources on diesel price adjustment

  • Sun Online Desk
  • 5th November, 2021 09:28:54 PM
  • Print news

The government has re-fixed the price of diesel and kerosene in the country on November 4, 2021, considering the wider national interest although the price of diesel in Bangladesh is still lower than other neighboring countries.

A press release issued by Mir Mohammad Aslam Uddin, Deputy Chief Information Officer, Ministry of Power, Energy and Mineral Resources confirmed the development on Friday afternoon.

If the price of fuel oil falls in the international market, the government will take steps to adjust the price of diesel and kerosene again, the release added.

The average price of gasoline around the world is Tk. 106.36 per litre, Tk. 26.36 higher than Bangladesh’s price, according to a global petrol website.

The retail price of diesel and kerosene in Bangladesh is at Tk. 80 per litre, which is being sold in Kolkata at Tk. 104 (Rs 90) per litre and Tk. 114 (Rs 98.42) in New Delhi.

Pakistan is selling diesel and kerosene at Pakistani Rupees 142.62 per litre, while price in Sri Lanka at Sri Lankan Rupees 144 per litre and Nepal at Nepalese Rupees 112.39 per litre, according to a statistics issued on November 1.

It said per litre petrol is being sold in Kolkata at Tk. 121, which is affected Bangladesh’s economy as fuel is being smuggled due to low price in Bangladesh.

So that the government has refixed the prices of diesel and kerosene as the price of fuel is rising in the international market.

Besides, Bangladesh Petroleum Corporation (BPC) is giving subsidy of around Tk 20 crore per day as it sells diesel at Tk. 13.01 per litre and furnace oil at Tk. 6.21 per litre which are much less compared to the international market, said a press release.

The BPC has given subsidy of Tk 726.71 crore in October 2021, as it supplied various grades of petroleum products at lower prices, but its price went up in the international market. The BPC provided Taka 1,147.6 crore subsidy in diesel at during the last five months.

Apart from Bangladesh, many countries including the neighbouring India, are regularly refixing the fuel price to adjust with the global market, added the release.

On November 1, 2021, the market price of diesel in India was Tk. 124.41 or Rs 101.56 per liter, while in Bangladesh, the price of diesel was Tk. 65 per liter, which is Tk. 59.41 less, the release said.

Considering the overall situation, the government has refixed Tk. 80 per litre for diesel and kerosene at Tk. 65 per litre.

The last time price of petroleum products was refixed by reducing price through a gazette notification on 24 April 2016.