Power, Energy and Mineral Resources Minister Iqbal Hassan Mahmood has said the government was compelled to increase fuel prices due to rising global costs and mounting pressure on imports.
Speaking to reporters at the Secretariat in Dhaka recently, he explained that fuel imports require significant foreign currency, leaving the government with little option but to adjust prices to maintain economic stability.
The minister noted that, despite the increase, fuel prices have been set below the actual import cost.
Addressing concerns about the impact on consumers, he said many countries—including the United States—have also raised fuel prices in response to global market changes.
“Following the war situation, we built fuel stocks at higher costs, yet continued selling at lower prices,” he added.
When asked about subsidies, Mahmood said government support remains in place but did not provide specific figures, suggesting detailed data could be obtained directly from the ministry.
