The government has reduced the prices of all sort of fuel oil by Tk5 per litre.

In a notification issued on Monday (29 August), the Ministry of Power, Energy and Mineral Resources announced the new rates effective from midnight. 

With the new rate, prices of diesel and kerosene dropped to Tk109 per litre, octane to Tk130 per litre and petrol to Tk125 per litre.

Earlier in the day State Minister for Power, Energy and Mineral Resources Nasrul Hamid said "Fuel price adjustment is being considered due to a reduction in tax on fuel import. However, the matter is still under review. Hopefully, change can be brought." 

The state minister also highlighted that prices in the international market are increasing. 

The government on Sunday slashed import duties on two key essentials – diesel and rice – by over 10% in a move to tame soaring commodity prices.

The Internal Resource Division under the Ministry of Finance issued two separate statutory regulatory orders in this regard on Sunday.

With the reduction, the duty on diesel imports comes down to 22.75%

On 5 August, the Energy and Mineral Resources Division hiked the diesel price by 42.5% and octane price by 51%.

The price of diesel increased by Tk34 to Tk114 per litre, octane by Tk46 to Tk135 and petrol by Tk44 to Tk130 per litre.

The price of kerosene was also increased by 42.5% to Tk114, in the across-the-board raise.