Jet fuel price hiked by Tk90 per litre, effective from midnight

The Bangladesh Energy Regulatory Commission (BERC) has issued a gazette notification increasing jet fuel prices by 80%, with the new rates set to take effect from midnight today.

The move is likely to increase ticket prices as well.

Under the revised pricing, the cost of jet fuel for domestic flights has been raised by Tk90 from Tk112.41 per litre to Tk202.29 per litre.

For international flights, the price per litre has been increased from $0.7384 to $1.3216.

The decision was taken at an emergency virtual meeting held today (24 March). Senior officials from BERC, Padma Oil Company Limited, and Bangladesh Petroleum Corporation (BPC) attended the meeting.

Meanwhile, the Aviation Operators Association of Bangladesh (AOAB) has expressed deep concern over the decision to raise the price of jet fuel by 80%, describing the move as "unjustified" and harmful to the country's aviation sector.

In a press statement issued today, AOAB Secretary General Mofizur Rahman said there is no shortage of fuel in the country, as confirmed by the relevant ministry.

He added that around 25 oil tankers have arrived in Bangladesh over the past 22 days, with fuel purchased at previously agreed prices. Mofizur also pointed out that global oil prices have declined in recent times.

"In this context, such a steep increase in jet fuel prices based on anticipated future price hikes is not justified," he said.

According to the statement, the decision, if implemented, will place severe financial strain on airlines and lead to higher costs for passengers on domestic routes.

The association cautioned that the price hike could even lead to a suspension of domestic flight operations on certain routes.