“India has been selling diesel at Tk 114 per litre and octane at Tk 134-135 per litre, which is equal to the current price in Bangladesh. As our price was lower, a large amount of fuel was being smuggled to India through borders,” Hasan Mahmud said.

He further said,” Diesel is being sold at a rate of Tk 114 per litre (as per local currency) in Kolkata and at Tk 112 per litre in other parts of India.

In China, the price of diesel is Tk 118, in United Aram Emirates it is Tk 123, it is Tk 127.82 in Nepal, in Indonesia Tk 138.24 and in Singapore Tk 189. 78,” said the minister.

Regarding the increase in transport fares he said, if there are 70 per cent passengers in a 50-seated bus the fare will increase by Tk 0.29 per kilometre only.

“Currently, a passenger has to pay Tk 1.80 per kilometre which will increase by Tk 2.90. Soon the government will hold meeting with all concerned parties to ensure no one takes unfair opportunity of the fuel price hike,” said Hasan Mahmud.