Diesel, petrol, kerosene, and octane prices increased by Tk1

The Bangladesh government has raised the prices of diesel, kerosene, petrol, and octane by Tk1 per litre, effective from Saturday, February 1. The Ministry of Power, Energy, and Mineral Resources announced the new prices on Friday.

With this change, the price of diesel and kerosene will go up from Tk104 to Tk105 per litre, while octane will rise from Tk125 to Tk126 per litre, and petrol will increase from Tk121 to Tk122 per litre.

Since March 2024, the government has been following an automatic fuel price adjustment mechanism, revising prices every month based on global market trends. The Bangladesh Energy Regulatory Commission (BERC) also adjusts the price of Liquefied Petroleum Gas (LPG) each month according to international market rates. Similarly, the Energy and Mineral Resources Division sets fuel prices on a monthly basis.

Currently, the annual fuel demand in Bangladesh is approximately 7.4 million tonnes, with diesel accounting for about 75% of the total consumption. The remaining 25% is made up of petrol, octane, kerosene, jet fuel, furnace oil, and other fuels. Diesel is primarily used for agricultural irrigation, transportation, and generators.

Additionally, the Bangladesh Petroleum Corporation (BPC) regularly adjusts the prices of jet fuel and furnace oil. Fuel prices in Bangladesh, including for diesel, kerosene, petrol, and octane, are determined by the Energy and Mineral Resources Division. Many countries, including India, also adjust fuel prices on a monthly basis in response to global price fluctuations.

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