Bangladesh Petroleum Corporation (BPC) has sought Tk18,699 crore in emergency government subsidy to cover losses incurred from soaring international oil prices amid the Middle East conflict.
BPC said it suffered the losses between March and June after keeping domestic fuel prices unchanged despite sharply higher import costs. The state-run agency imported 72 fuel consignments during the period.
BPC formally requested the Energy and Mineral Resources Division to provide the funds, warning that its financial position has weakened significantly.
Bangladesh introduced an automatic fuel pricing formula in March 2024, allowing domestic prices to be adjusted monthly in line with global market rates.
However, the government kept prices unchanged to protect consumers amid the recent surge in international oil prices.
