Fuel prices in the domestic market have seen a reduction this month. Following a price hike of 2 Taka per liter last month, the government has lowered the rates by 2 Taka per liter for the current month.
The new prices for petrol, octane, diesel, and kerosene came into effect today, Thursday (January 1).
The Ministry of Power, Energy, and Mineral Resources issued a gazette notification regarding the adjustment at midnight on Wednesday.
New Fuel Price Breakdown
According to the notification, the updated prices are as follows:
| Fuel Type | Old Price (per Liter) | New Price (per Liter) |
| Diesel | 104 Taka | 102 Taka |
| Kerosene | 116 Taka | 114 Taka |
| Petrol | 120 Taka | 118 Taka |
| Octane | 124 Taka | 122 Taka |
Automatic Pricing Mechanism
The government began the automatic pricing of fuel oil in March 2024 to align with the global market. Under this system, prices are adjusted every month.
The guidelines for this formula, published on February 29, 2024, state that since octane and petrol are primarily used in private vehicles, they are categorized as luxury items and are priced higher than diesel.
While the Energy and Mineral Resources Division sets the prices for diesel, kerosene, petrol, and octane, other fuels are managed differently:
- Jet Fuel: Prices are determined by the Bangladesh Energy Regulatory Commission (BERC).
- Furnace Oil: BERC recently held a hearing regarding furnace oil used in power plants, with a new price announcement expected soon.
