Govt to cut 8-10 pc of fuel prices

R Akter Special assistant to the chief adviser M Tamim said they might decrease the prices within this week.We have to perform some administrative formalities before we announce the price reduction. We may announce it this week, preferably on Thursday, and if not possible, we will cut fuel prices early next week, he said. He said,’We’ll roughly reduce the prices by around 10 per cent for all fuel oils. However, the reduction ratio for octane and petrol will be lower than other fuel oils as these are used by the affluent sections of the society Also Bangladesh Energy Regulatory Commission has given consent to the BPC proposal for decreasing fuel oil prices Monday.The commission on Monday approved a Bangladesh Petroleum Corporation proposal paving the way for the government to bring down the prices of fuel oil..’ The government has taken the steps to reduce oil prices on the local market against the backdrop of plummeting prices on international market, which experienced around 50 per cent price fall – from $141 to $70 – in recent times. The price of diesel and kerosene is likely to come down to around Tk 50 per litre from the current price of Tk 55 and that of octane to Tk 82-Tk 84 from Tk 90, sources in the energy division said, adding that the petrol price was likely to be re-fixed at around Tk 80 from Tk 87 per litre.The government raised prices of fuel oils on the local market by 33-37 per cent when the prices had hit record high on the international market in July.