The government has finally revised consumer-level fuel prices in line with the global market. From Sunday, octane will cost Tk140 per liter, petrol Tk135, and diesel Tk115.
The Ministry of Power, Energy and Mineral Resources announced the new price in a statement issued on Saturday.
It said the domestic prices were aligned with rising international fuel costs. Under the new list, octane is Tk140 per liter, petrol Tk135, and diesel Tk115. Kerosene has also been reset at Tk130 per liter.
This adjustment raises fuel prices by Tk15–20 per liter. Previously, diesel was Tk100, now Tk115; kerosene rose by Tk18 to Tk130; petrol climbed from Tk116 to Tk 135; and octane increased from Tk120 to Tk140.
Meanwhile, reduced supply has triggered crowds at filling stations. Bangladesh Petroleum Corporation (BPC) said it plans to ease public hardship by boosting supply.
The backdrop is the Middle East war that erupted on 28 February after US-Israeli strikes in Iran, disrupting global fuel supply and driving crude above $100 a barrel from around $80 before the conflict.
Prices fell to about $90 after Iran briefly reopened the Strait of Hormuz last Friday, but renewed closure yesterday reignited concerns.
Bangladesh’s announcement came amid this volatility. Since March 2024, the government has applied automatic monthly price adjustments based on import costs. Although April began without a hike despite global surges, mid-month the increase was imposed.
According to experts, the steepest one-time rise was in August 2022, when diesel jumped 42.5 percent to Tk114 after the Russia-Ukraine war. Facing criticism, the government cut Tk5 later that month.
Most recently, on 1 February, the government reduced fuel prices by Tk2 per litre across all categories.
However, a renewed surge in global crude prices – which rose above $100 per barrel after the Iran conflict began – has put Bangladesh under growing pressure.
The government had initially tried to absorb the shock without raising prices, but the subsidy burden grew rapidly.
Prime Minister Tarique Rahman said on Friday that the state had been providing daily subsidies amounting to hundreds of crores of taka.
While increases in petrol, octane, diesel and kerosene were delayed, the government had already raised prices of jet fuel multiple times and furnace oil once, reflecting broader cost pressures across the energy sector.
