Dhaka: State Minister for Power, Energy and Mineral Resources Anindya Islam Amit announced that the government is committed to reducing fuel prices in the domestic market as soon as international prices decline, ensuring that consumers will benefit from lower global rates. Speaking to reporters at the Secretariat, he explained that the recent adjustment in fuel prices was driven by developments in the international market and ongoing tensions in the Middle East.
According to United News of Bangladesh, Amit stated that Bangladesh adheres to a monthly fuel price adjustment mechanism. He noted that no changes were made in May, as prices had already been adjusted in April. The latest revision was in response to fluctuations in global oil prices and evolving international circumstances. Amit emphasized that the government does not intend to raise fuel prices unnecessarily but highlighted that current international market conditions and instability in the Middle East necessitated some price adjustments.
The state minister highlighted that the government continues to provide a high level of subsidy on diesel, keeping its price unchanged to minimize the burden on ordinary people. Despite the challenges, the price of diesel remains steady to protect consumers, though adjustments were necessary for other fuel products due to market realities.
In response to questions about the potential for future fuel price reductions, Amit reassured that consumers will benefit from any decline in international fuel prices. He mentioned that in the past, consumers did not always receive the advantages of falling global prices promptly, but assured that the present government is accountable to the people. If international prices decrease, the government will act swiftly to pass on that benefit and ease public hardship.
The state minister's remarks followed the government's decision to increase the prices of kerosene, petrol, and octane by Tk 5 per litre, while keeping diesel prices unchanged. According to a notification issued on Sunday night, the latest adjustment aligns domestic fuel prices with trends in the international market.