Bangladesh Petroleum Corporation (BPC) has incurred a loss of over Tk 5.0 billion in fuel oil trading over the past three months to January as the price of the petroleum products in the international market continued upward trend, officials said.
Presently, it is incurring a loss more than Tk 100 million every day, according to a senior official at the state-run oil trading agency.
The loss stands at Tk 9.80 per liter for trading furnace oil while Tk 5.24 per liter for diesel and Tk 4.74 per liter for kerosene.
The BPC started showing the loss since November last year, after making substantial profits for three consecutive years since late 2014.
The fuel price in the international market started escalating since mid-June 2017 due to cut in oil production by some of the major oil exporters coupled with international political turmoil.
But the BPC's loss started four months after the beginning of international price hike as the corporation was buying the petroleum products from international market at lower rate and selling at higher rates in the domestic market.
The BPC official expressed the fear that the loss might go up if the price of petroleum products in the international market climbs up further.
