For the first time in the country, the government has automatically determined the price of fuel in line with the international market.
The Ministry of Power, Energy and Mineral Resources has issued a notification on Thursday (March 7) informing about the new prices determined automatically.

According to the notification, the price of diesel and kerosene per liter has been reduced from Tk 109 to Tk 108 to Tk 25 paise, octane has been reduced from Tk 130 to Tk 126 and petrol price has been reduced from Tk 125 to Tk 122. Diesel and kerosene have reduced by 75 paise, octane by 4 taka and petrol by 3 taka. The new prices will be effective from Friday, March 8.
According to the notification, the price structure of diesel, kerosene, octane and petrol announced on October 2 last year has been adjusted in the light of the guidelines for automatic pricing of fuel oil published on February 29 by the Department of Energy and Mineral Resources.

After the latest oil price adjustment, the premiums for marine fuel products, transport fares, insurance and bank interest rates have increased substantially in the wake of the post-Covid pandemic supply crisis, Russia-Ukraine war, ongoing tensions in the Middle East. The domestic currency has depreciated against the US dollar during the said period and fuel oil (mainly diesel) prices have been volatile in the global market.
According to the guidelines, the sale price will be adjusted at the consumer level in light of the import/purchase price of fuel oil every month from now on, the notification said.