Fuel oil price cut by Tk 5 per litre

In coordination with the international market, the Ministry of Power, Energy and Mineral Resources has decided to reduce the price of fuel oil in the domestic market by Tk 5 per liter. The price of diesel, octane and petrol is being reduced by Tk 5 per liter from 12 pm tonight.

Ministry of Energy and Mineral Resources said on Monday a price cut notification will be issued tonight.

Recently, the National Board of Revenue has reduced import duty from 10 percent to 5 percent in addition to waiving all types of advance taxes to control prices. The order came into effect from Sunday (August 28) and will remain in force till December 31.

In this situation, Chairman of Bangladesh Petroleum Corporation ABM Azad said that the Ministry of Electricity, Energy and Mineral Resources will decide whether the price will decrease or not.

Earlier, the price of all types of fuel oil was increased in the country from 12:00 pm on August 5. The price of diesel has been increased from Tk 80 to Tk 114, kerosene has been increased from Tk 80 to Tk 114, octane has been increased from Tk 89 to Tk 135 and petrol price has been increased from Tk 86 to Tk 130.

Finally, after reducing the VAT-tax and the decrease in the price of fuel oil in the world market, the government reduced the average by Tk 5 per liter.