Fuel prices in Bangladesh will be reduced once the international market stabilizes and the Middle East crisis eases, State Minister for Power, Energy and Mineral Resources Aninda Islam Amit said recently.
He said the recent fuel price hike was an unavoidable consequence of higher international fuel, shipping and insurance costs and was not a deliberate government decision.
Bangladesh had kept domestic prices unchanged from March to August, causing Bangladesh Petroleum Corporation (BPC) to incur losses of around Tk22,875 crore, he said.
The state minister said the adjustment was also necessary to prevent fuel purchased with foreign currency from being smuggled to neighbouring countries amid a significant price gap.
On the upcoming Boro irrigation season, Amit said ensuring uninterrupted electricity supply to farmers, particularly in rural and marginal areas, remained a government priority.
