Fuel oil prices have gone up again in the country’s market. In December, the price of fuel oil has increased by Tk 2 per litre. This was announced in a notification issued yesterday, Sunday, by the Ministry of Power, Energy and Mineral Resources.
The notice states that the price of diesel has been raised from Tk 102 to Tk 104 per litre. The price of petrol has been increased from Tk 118 to Tk 120 per litre, the price of octane from Tk 122 to Tk 124 per litre, and the price of kerosene from Tk 114 to Tk 116 per litre.
The new prices will come into effect today, 1 December. Since March last year, the government has been setting fuel prices automatically in line with the global market. Accordingly, new prices are announced each month.
The formula for automatic fuel price adjustment was defined in a guideline published on 29 February 2024. It states that octane and petrol are used more in private vehicles in the country. Therefore, as a matter of practicality, they are always priced higher than diesel as they are considered luxury items.
The price of jet fuel used in aircraft is determined by the Bangladesh Energy Regulatory Commission (BERC). A proposal to adjust the price of furnace oil used in power plants is pending with BERC. Meanwhile, the prices of diesel, kerosene, petrol and octane are determined by the Energy and Mineral Resources Division.