Bangladesh has kept retail prices of fuel oil unchanged for September, maintaining diesel at Tk115 per litre, kerosene at Tk135, petrol at Tk140 and octane at Tk145.
The government issued a gazette notification confirming the existing prices for the month.
The last adjustment was made on 31 May, when prices of kerosene, petrol and octane were each increased by Tk5 per litre, while the diesel price was left unchanged. Prices were subsequently kept unchanged in July and August.
The most significant increase this year came on 19 April, when diesel was raised from Tk100 to Tk115 per litre, petrol from Tk116 to Tk135 and octane from Tk120 to Tk140.
The decision to keep prices unchanged comes amid continued volatility in global oil markets linked to the war involving Iran and the resulting concerns over international fuel supplies.
Brent crude, which had been trading at around $72 a barrel before the conflict, rose to about $100 a barrel amid the market turmoil. Brent’s recent record high was $137.64 a barrel on 8 March 2022, while one of its lowest recent levels was $50.33 on 4 January 2021 during the coronavirus pandemic.
Bangladesh introduced an automatic fuel pricing mechanism through a government gazette on 29 February 2024. Under the system, domestic fuel prices are supposed to be adjusted each month in line with movements in international markets.
According to the pricing framework, commissions payable to the Bangladesh Petroleum Corporation (BPC) and other parties remain unchanged, while the import cost component is adjusted each month depending on international prices.
However, the previous government retained domestic fuel prices in April despite rising international market prices before eventually increasing them on 19 April.
The latest decision means Bangladeshi consumers will continue to pay the same retail prices for the fourth consecutive month.