Govt raises diesel price by Tk0.75 per litre, petrol and octane by Tk2.50 for June

The government has further increased retail prices of diesel, kerosene, petrol, and octane for the month of June.

As per a gazette notification on Thursday (30 May), the prices of diesel and kerosene have been raised by Tk0.75 to Tk107.75 per litre from the existing Tk107. The price of petrol has been set at Tk127 per litre, up by Tk2.50 from Tk124.50 per litre. Similarly, the price of octane has been set at Tk131 per litre, up by Tk2.50 from Tk128.50 per litre.

The new prices will come into effect on 1 June.

Earlier, fuel prices were increased for the month of May.

The Energy and Mineral Resources Division set the new automated price through a gazette notification as per the government decision on Thursday.

The Energy and Mineral Resources Division explained that although the prices of petroleum decreased in the global market, the devaluation of the taka against the US dollar has caused an increase in fuel prices locally.

The government launched the new formula to fix fuel oil rates on 7 March according to the terms of the International Monetary Fund (IMF) for a $4.7 billion loan.

Prices will be fixed every month with the new automatic system.

On 29 February, the Bangladesh Petroleum Corporation (BPC) issued a notification on Automatic Fuel Oil Pricing Guidelines.

According to the notification, the prices of all petroleum fuels – petrol, diesel, octane, kerosene, furnace oil, jet fuel, and marine fuels – will be set automatically based on the international market price.