Photo: Messenger
The government is not following automatic fuel oil pricing policies. According to the policy, price is supposed to reduce and increase in line with the international market. But the sellers are charging more than the fixed profit. Experts think that the government is not following its own policy.
The prices of fuel oil and LP gas are fixed every month in coordination with the international market keeping a fixed profit. In the international market, these two products usually rise or fall together. The prices of both commodities have fallen in the international market for months.
Bangladesh Energy Regulatory Commission (BERC) has increased the price of LP gas, though the price has been reduced in the international market. And in the same context, Bangladesh Petroleum Corporation (BPC) has increased the price of fuel oil for two consecutive months.
Energy expert M Tamim commented that there is a lack of transparency in determining the price of fuel oil. He told The Daily Messenger that it is not clear in what context the price is being determined in fixing the price of fuel oil. “Why and how pricing is being determined is not transparent. According to the policy, the price of petrol should be Tk 10 higher than that of diesel and kerosene. But from the beginning, that rule was not obeyed.”
According to the policy, if the price of oil falls in the international market, it should be reduced in the country. And if it increases, it will be increased. Petrol price will always be Tk 10 higher than diesel. But that rule was not obeyed from the beginning of setting the price of fuel oil automatically.
In the last two months, the price of diesel and kerosene has been increased by Tk 0.75 per liter and petrol octane by Tk 5. As the price of fuel oil continues to fall, the producing country Saudi Arabia has taken the initiative to re-evaluate some projects. But our prices are not being reduced here.
The government on 30 June set the automated retail prices of petroleum fuel for the month of July by reducing diesel and kerosene prices by Tk1. As per a gazette notification of the Ministry of Power, Energy and Mineral Resources, per liter diesel and kerosene will be sold at Tk 106.75 in July.
The prices of petrol and octane have been kept unchanged at Tk 127 and Tk 131 per liter, respectively, reads the notification. The new rates came into effect on 1 July.
Messenger/Disha
