The government has announced a reduction in diesel and kerosene prices by 50 paisa per litre, effective from November 1. However, the prices of petrol and octane will remain unchanged.
Since March, the government has been adjusting fuel prices monthly to align with global market trends. In October, fuel prices were unchanged, but on Thursday, the Ministry of Power, Energy, and Mineral Resources issued a notification detailing the revised rates.
The price of diesel and kerosene has been adjusted to 105 taka per liter, down from the previous rate of TK 105.50. Petrol remains at 125 taka per litre, while octane is fixed at Tk 121 per litre.
Beyond fuel, the Bangladesh Energy Regulatory Commission (BERC) sets monthly rates for Liquefied Petroleum Gas (LPG) based on international market conditions. Similarly, the Ministry of Power, Energy, and Mineral Resources adjusts liquid fuel prices monthly.
According to the Bangladesh Petroleum Corporation (BPC), the country’s annual fuel oil demand is approximately 7.5 million tons, with diesel accounting for nearly 75% of this figure. Diesel is essential for agriculture, transportation, and generators.
BPC also regulates the prices of jet fuel for aviation and furnace oil for power plants, while the Energy and Mineral Resources Division sets the rates for diesel, kerosene, petrol, and octane. Many other nations, including neighboring India and developed countries, follow similar monthly pricing reviews.