The retail prices of the petroleum products in the domestic market to take effect after midnight today (April 24).
Diesel and kerosene see a cut by Tk3 per litre to Tk65 from the zero hour of tomorrow (April 25) while petrol and octane by Tk10 per litre to Tk84 and Tk89 respectively.
Bangladesh Petroleum Corporation (BPC) has adjusted the prices today, State Minister for Power, Energy and Mineral Resources Nasrul Hamid told journalists at his office. “A gazette notification is being prepared to make it public.”
It is for the first time since the international oil price started falling in 2014 Bangladesh reduced the prices. Last month, only the price of furnace oil got a cut by Tk18 per litre to Tk42.
Officials said the government took time despite the international price fell to its lowest due to offset huge losses accumulated over the years and to help BPC gain some financial strength.
But the consumers have long been pressing the government to reduce the price in the domestic market due to its sharp fall in the international market.
Oil prices fell as low as $27.65 a barrel in January this year before rebounding recently to $40.