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Fuel oil price cut rests on int’l market

Published : 06 Nov 2021 10:51 PM | Updated : 07 Nov 2021 01:41 PM

If fuel oil price decreases in the world market, the government will also reduce prices in the country, said State Minister for Power, Energy and Mineral Resources Nasrul Hamid.

He said the price of fuel oil was also reduced in 2016. Currently, the government increased the price due to the rise in global oil prices and to stop fuel smuggling to India because Bangladesh's fuel prices are much lower than that of India.   

The state minister said this while exchanging views with reporters on Saturday.

Read More: Govt imports eco-efficient fuel oil

Nasrul Hamid said, “Considering the overall context, the government has re-fixed the price of diesel and kerosene in the country on November 4, 2021. However, the price of diesel in Bangladesh is still lower than in other neighboring countries. Today (November 06) the price of diesel in Kolkata, India was Rs 89.79 or taka 104 per liter.”

“The number of cargo trucks plying in Bangladesh every day through 26 land ports is also a matter of consideration. There is a risk of smuggling,” he added. 

The state minister said that ‘we have to move towards electric vehicles. In particular, if public transport can be made electric, eco-friendly vehicles will be ensured in the country. The engine efficiency of electric vehicles is more efficient and affordable. Oil import costs will also be reduced.

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