The government's implementation of automatic gasoline pricing in line with global market rates has resulted in lower fuel oil costs.
Starting from 12:00 am on Friday, the price of a litre of diesel and kerosene will be Tk 108.25, while that of petrol and octane will be Tk 122 and Tk 126, respectively.
Regarding this, the Ministry of Power, Energy, and Mineral Resources published a gazette notice on Thursday (7 March).
The cost of kerosene and diesel, gasoline, and octane has decreased by Tk 0.75, Tk 3, and Tk 4 accordingly compared to the previous pricing.
A ministry press release claims that after the most recent adjustment of the fuel oil price in August 2022, the impact of the coronavirus epidemic, the Russia-Ukraine war, and Middle East tension increased dramatically. In addition, these variables raised the cost of bank interest, insurance, transportation, and gasoline import premiums.
It said that the new guideline will be followed going ahead when adjusting the monthly fuel price.
On February 29, the government put the automated fuel pricing mechanism into place, fulfilling one of the conditions for the $4.7 billion loan from the International Monetary Fund.
