Automated fuel pricing: Octane, petrol prices to fall further

Automated fuel pricing: Octane, petrol prices to fall further

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The proposal on the revised fuel price has been sent to the Prime Minister's Office as Prime Minister Sheikh Hasina is the Minister of Power, Energy and Mineral Resources. As soon as the proposal is approved, a gazette will be issued on the revised price.

BPC always makes profits from petrol and octane prices. Seventy-five percent of the fuel oil used in the country is diesel, and BPC has been making profits by selling it for a long time.

State Power, Energy and Mineral Resources Minister Nasrul Hamid told Prothom Alo that automatic fuel pricing will be introduced this month and could reduce fuel prices, but it has not been finalized yet.

BPC made a huge profit of Tk 45.86 billion in the financial year 2022-23 after increasing fuel prices on the pretext of subsidy adjustment. The state-owned corporation made a profit of more than Tk 5 billion in the first half (July-December) of the current financial year 2023-24, but fuel prices have not been adjusted yet.

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