Fuel prices still lower than neighbouring countries: Hasan

Even after the latest hike in fuel prices in Bangladesh it is equal to India and comparatively lower than the other neighbouring countries, said Information Minister Hasan Mahmud.

He made the remark Saturday at a seminar marking Sheikh Kamal’s 73rd birth anniversary at Dhaka University.

Hasan Mahmud said the government provided a subsidy of Tk 53,000 crore or $6 billion in fuel and power sector in the last fiscal year.

The neighbouring countries did not provide such subsidy and as a result they had to raise the fuel prices long before Bangladesh, he added. 

“India has been selling diesel at Tk 114 per litre and octane at Tk 134-135 per litre which is the current price in Bangladesh. As our price was lower a huge amount of fuel was being smuggled to India through borders,” said the minister.

He said in India’s Kolkata current diesel price is Tk 114 per litre (as per local currency) while Tk 112 in all over India. “In China the diesel price is equal to Tk 118, in United Aram Emirates it is Tk 123, in Nepal it is Tk 127.82, in Indonesia Tk 138.24 and in Singapore Tk 189. 78,” said the minister.

Regarding the increase in transport fares he said, if there are 70% passengers in a 50-seated bus the fare will increase by Tk 0.29 per kilometre only.

“Currently, a passenger has to pay Tk 1.80 per kilometre which will increase by Tk 2.09. Soon the government will hold meeting with all parties concerned to ensure no one takes unfair opportunity of the fuel price hike,” said Hasan Mahmud.