Bangladesh Raises Fuel Prices Amid Global Oil Surge

State Minister for Power, Energy and Mineral Resources, Iqbal Hassan Mahmud, stated today that global market volatility forced the government’s hand in the recent fuel price hike. Addressing reporters at the Secretariat, the Minister emphasized that while international prices have nearly doubled, the domestic increase was kept "minimal" to shield citizens from the full impact of global inflation.

The Minister revealed that the government is currently spending an additional $2 billion on fuel imports due to global instability following recent conflicts. "The price of fuel oil in the world market is almost double what it was before the war," he noted, adding that the government continues to shoulder a significant portion of the cost through subsidies to maintain economic stability.

New Fuel Rates (Per Liter) Octane: 140 Taka (Up by 20 Taka), Petrol 135 Taka (Up by 19 Taka), Kerosene 130 Taka (Up by 15 Taka) Diesel 115 Taka (Up by 15 Taka)

The new prices are effective immediately. Despite the hike, the Ministry maintains that these adjustments are "limited" compared to the sharp rise in the international procurement cost.