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The Daily Morningsun Online //

The government has reduced the price of diesel and kerosene by 50 paise per litre. However, petrol and octane prices remain unchanged. The new price of fuel will be effective from November 1.

The government has started automatic price determination of fuel oil in line with the world market from last March. Accordingly, new prices are being announced every month. Earlier, fuel oil prices were unchanged in October.
The Ministry of Electricity, Energy and Mineral Resources issued a notification on Thursday, determining the new price of fuel oil. In this, the price of diesel and kerosene per liter has been reduced from 105 taka 50 paisa to 105 taka. Petrol price has been kept unchanged at Tk 125 per liter and octane at Tk 121 per litre.

At present, the Bangladesh Energy Regulatory Commission (BERC) determines the price of liquefied petroleum gas (LPG) every month in accordance with the international market, apart from fixing the price of fuel oil. The Department of Energy and Mineral Resources determines the price of fuel every month in much the same process.

According to the sources of Bangladesh Petroleum Corporation (BPC), currently the annual demand for fuel oil is about 75 lakh tons. About 75 percent of the total demand is diesel. The remaining 25 percent of the demand is met by petrol, octane, kerosene, jet fuel, furnace oil and other fuel oils. Diesel is commonly used in agricultural irrigation, transportation and generators. BPC regularly adjusts the prices of fuel oil such as jet fuel used in aircraft and furnace oil used in power plants. And the prices of diesel, kerosene, petrol and octane are determined by the Department of Energy and Mineral Resources. Apart from neighboring India, fuel prices are fixed every month in the developed world.