He said that a rationing system had been introduced as a precautionary measure due to the ongoing war to ensure that fuel reserves remained adequate. “We started rationing because of the war in Iran. But people became worried and started storing oil. Actually, there is no shortage of fuel in the country,” Tuku said. He […]
The government is now forced to buy fuel at higher prices as the war in the Middle East has destabilized the global fuel market. Daily limits have been placed on how much fuel can be purchased each day to conserve supplies. Amid growing concern, long queues of cars and motorcycles are forming at filling stations […]
The price of crude oil has already increased by 10 percent to about US$80 per barrel. Analysts have warned that if the conflict drags on, prices could exceed $100 a barrel. Global LNG prices have increased by 20 to 25 percent. Additionally, the US dollar has strengthened against major currencies, which is likely to further […]
After the attacks by the United States and Israel, a warning was broadcast over maritime radio on Saturday night advising ships to stop sailing through the Strait of Hormuz. The announcement has created uncertainty in the import-export trade that depends heavily on the Middle East. However, Iran’s Foreign Minister Abbas Araghchi told Al Jazeera on […]
Under an automated pricing system, officials now adjust fuel prices according to the international market at the beginning of each month. Fuel prices went down due to adjustments in the last two months. As per the latest notification, diesel and kerosene will be sold at Tk 107 per liter instead of the previous Tk 106. […]
Several senior diplomats, speaking on condition of anonymity, said that Qatar's former Emir Hamad bin Khalifa Al Thani had visited Bangladesh in 2005. Another Emir of Qatar is set to visit Bangladesh after almost two decades. Qatar's diplomatic relations with the Arab League, particularly other Middle East countries and Arab countries led by Saudi Arabia, […]
The government has introduced an automatic pricing mechanism for fuel oils in line with global market prices. Thanks to the development, there has been a slight decline in fuel prices in the local market. According to a gazette notification issued by the Ministry of Power, Energy and Mineral Resources on Thursday, diesel and kerosene prices […]
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 […]
Expressing hope that the prices will come down, he said that earlier the agencies were asked why they do not reduce the prices in the domestic market when the prices come down in the global market. Now that the matter has been resolved; Prices will be adjusted regularly. If the price increases again in the […]
Energy experts and economists argue that prolonged inflationary pressures have burdened people, while the government struggles to rein in market prices. Meanwhile, the government takes advantage of increased gas prices to generate revenue. However, there was an opportunity to reduce the cost of fuel oil, potentially lowering prices in various market sectors, particularly in agricultural […]
Typically, the price tariff is set at a price lower than the purchase price, thus, reducing the expense of the BPC. However, if the National Board of Revenue (NBR) wants to impose import duty on procurement prices, BPC’s expenditure on fuel oil will increase. Since the government has not yet finalized the matter, BPC has […]
