Bangladesh Increases Retail Fuel Prices by 15 Percent
Bangladesh raised retail fuel prices by up to 15 percent yesterday to offset rising import costs. The move follows supply disruptions from the ongoing Iran war.
Bangladesh has implemented a significant increase in retail fuel prices, ranging from 10% to 15%, as the government struggles to manage the economic fallout from the ongoing conflict in Iran. The energy ministry announced the decision late Saturday, citing a sharp surge in global benchmarks such as Brent Crude Oil and West Texas Oil.
Under the newly adjusted rates, petrol is now priced at 135 taka ($1.10) per litre, an increase from the previous 116 taka. Diesel has risen to 115 taka, while kerosene is set at 130 taka. Officials stated that the price hike became unavoidable due to rising import expenses, including higher freight and insurance costs that have escalated during the seven-week-old war.
