Interim government to reduce fuel prices in September

In order to control high inflation, the interim government has decided to reduce the price of fuel oil in the country by reducing the profit of Bangladesh Petroleum Corporation (BPC).

Customers will be able to buy fuel oil at a lower price from next September. Petrol and octane prices will drop more than diesel and kerosene.

The government will reduce the price of octane and petrol by 8 to 12 taka per liter and diesel and kerosene by one and a half to two and a half taka per liter. This information is known through the Energy Department and Bangladesh Petroleum Corporation-BPC.

Sources of BPC said that due to the reduction of oil prices in the international market, there will be adjustments in the country. Due to which the price of oil will decrease slightly in the next month. Besides, as per the current formula, the government has also decided to reduce the profit margin for BPC in the price of fuel oil.

From June 1, diesel and kerosene are being sold at the rate of 106 taka 75 paisa per liter. And each liter of octane is being sold at the rate of Tk 131 and per liter of petrol at the rate of Tk 127.

Currently, diesel prices are three to three and a half dollars more per barrel than refined octane in the international market. Due to which the price of diesel will be reduced relatively less. It is known that today, August 27, the price of refined diesel per barrel in the international market is 91.25 US dollars. And the price of refined octane is 88 dollars.

Meanwhile, the executive order repealing the Electricity and Gas Price Fixing Act has been gazetted. In this, Bangladesh Energy Regulatory Commission (BERC) regained the sole power to determine the price of electricity and gas.

The President's office published the gazette in this regard on Tuesday. By adding Section 34(a) to the BERC Act in the Gazette, the executive department is empowered to fix prices by executive order. Section 34(a) has been deleted in the Gazette.

Bangladesh /OF