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Fuel oil prices to be adjusted monthly: Nasrul

Fuel oil prices to be adjusted monthly: Nasrul

Bangladesh will adjust the prices of fuel oil every month starting in March this year, State Minister for Power, Energy and Mineral Resources Nasrul Hamid has said.We have adjusted the price of electricity and fuel. We also revised the price of gas used by power plants by Tk 0.75. We are also going for dynamic prices for oil,” he told journalists at the Secretariat on Thursday (Feb 29).The state minister said, “There has been a huge shift in the price at which we used to procure fuel, including coal, oil and gas. This has changed drastically in the last year. That's why we were thinking of aligning fuel prices with dollars.”“We are moving towards dynamic pricing of fuel from March 1. A notification will be issued tomorrow,” he added.

Dynamic pricing means that if the price of fuel increases in the global market, it will also increase in our country. Accordingly, if it decreases globally, it will also decrease in our country.

  “This readjustment will take place in the first week of every month. Our neighbouring countries do this every day. For example, if we talk about Kolkata, the price per litre of diesel there is Tk 133, which is Tk 109 in our country,” he said.
Power prices have been raised by Tk 0.34 to Tk 0.7 per unit. 
The government issued a notification announcing the new rates on February 27. For power production (government, IPP and rental power generation plants, each cubic metre of gas will cost Tk 14.75.
For captive electricity (captive power plants, small power plants, and commercial power plants), the price will be Tk 30.75.