The price of fuel oil has decreased in the country’s market. In this, the price of diesel has been reduced by 1.25 taka to 105.25 taka, the price of petrol has been reduced by 6 taka to 121 and the price of octane has been reduced by 6 taka to 125 taka.

Faozul Kabir Khan, Adviser on Electricity, Energy and Mineral Resources of the Interim Government, told reporters before inspecting the Rupsa 800 MW Combined Cycle Power Plant project under construction at Khalishpur in Khulna at around 11 o’clock today (August 31). He said that the new price will be effective from 12:00 tonight.

The energy advisor said that the price of diesel has been reduced from Tk 106.75 to Tk 1.25 to Tk 105.25, octane price has been reduced from Tk 131 to Tk 6 to Tk 125 and petrol price has been reduced from Tk 127 to Tk 6 to Tk 121.

Earlier, on August 28, in an exchange meeting with representatives of organizations and departments under the Ministry of Power, Energy and Mineral Resources at Petrobangla, Fawzul Kabir Khan said, ‘Keeping in mind that the people of the country can buy oil at a low price, it is being considered to set the price of oil in line with the international market. The new price list of fuel oil will be published on September 1.

Before that, the government issued an ordinance canceling the provision of increasing the price of fuel oil, gas and electricity in an executive order. By amending the Bangladesh Energy Regulatory Commission Act, 2003, section 34 (a) of increasing the price of fuel oil, gas and electricity has been abolished in the executive order.

As a result, it was informed that these prices will be determined through public hearing.

On December 1, 2022, the President issued the ‘Bangladesh Energy Regulatory Commission (Amendment) Ordinance, 2022’ empowering the government, not the Bangladesh Energy Regulatory Commission (BERC) in special cases, to determine, re-fix and adjust the prices of fuel oil, electricity and gas at the consumer level.

Section 34(a) headed ‘Power of Government to fix, re-fix or adjust tariffs’ was added in the Ordinance. That section states, ‘Notwithstanding anything contained in any other provision of this Act, the Government may, by notification in the Government Gazette, in particular cases, for the purpose of co-ordinating subsidies, ensure uninterrupted supply of energy in the public interest, as per the demand of agriculture, industry, fertiliser, trade and domestic work. With the aim of increasing production, transmission, transportation and marketing of electricity generation, energy transmission, storage, marketing, supply, distribution and tariff at the consumer level to facilitate the adoption of effective measures.

The Ordinance becomes law when the Parliament sits later. The prices of gas, electricity and oil were being increased by the ministry. There was outrage among customers over this.