Online Desk

The government of Bangladesh has increased fuel prices once again, with the new rates taking effect from Sunday. The decision comes amid ongoing volatility in global energy markets, forcing consumers to pay more for fuel.

According to a notification from the Energy and Mineral Resources Division, the new per-liter prices are: diesel at 115 taka, kerosene at 130 taka, octane at 140 taka, and petrol at 135 taka. These rates mark the highest fuel prices in the country’s history.

Diesel prices have increased by about 15%, while octane rose from 120 to 140 taka, petrol from 116 to 135 taka, and kerosene from 112 to 130 taka.

The price hike is largely attributed to rising crude oil costs in the global market, driven by ongoing tensions in the Middle East. Since February, supply uncertainties have pushed crude oil prices above $100 per barrel. Though prices have eased slightly in recent weeks, the market remains unstable.

Domestically, fuel supply is also under pressure. Increased demand has led to long queues at filling stations in Dhaka and other areas. To address this, the Bangladesh Petroleum Corporation (BPC) has instructed fuel distribution companies to ensure higher supply.

Officials say demand is currently about 30% higher than normal, partly due to panic buying amid fears of shortages. Authorities are planning to boost supply at pump level with support from local administration.

Diesel remains the most widely used fuel in the country, accounting for about 63% of total consumption. Although recent import disruptions reduced reserves, new shipments are arriving to stabilize the situation.

Meanwhile, rising demand for octane and petrol—especially from motorcycles and private vehicles—has increased pressure on filling stations.

Experts warn that increasing supply alone may not fully resolve the crisis. Effective management and monitoring are needed to address public concerns and prevent further market disruption.

It is worth noting that since March 2024, Bangladesh has been following an automatic fuel pricing mechanism aligned with global market trends, adjusting prices monthly based on import costs.