The government has decided to keep fuel prices unchanged in April despite a rise in the international market.
The Energy and Mineral Resources Division informed the Bangladesh Petroleum Corporation (BPC) of the decision through a letter on Tuesday.
As per the decision, diesel will continue to be sold at Tk 100 per litre, octane at Tk 120, petrol at Tk 116 and kerosene at Tk 112 at the consumer level throughout the month.
87,700 litres of illegally hoarded fuel seized in 24 hours in 64 districts
The prices were last adjusted on February 1, when the government reduced the prices of all types of fuel by Tk 2 per litre.
The revised rates were maintained in March and will now continue for April as well.
Officials said the decision has been taken in line with the revised automatic fuel pricing mechanism which adjusts domestic prices in accordance with fluctuations in the global market.
However, global fuel prices have been on the rise in recent months amid tensions in the Middle East following attacks on Iran by US and Israel which disrupted oil transport through the Strait of Hormuz—one of the world’s key shipping routes.
The situation has had a ripple effect globally and also impacted Bangladesh where reports of fuel shortages and long queues at petrol pumps have emerged in recent days.
Many consumers have been seen waiting for hours to collect fuel while several filling stations reportedly ran out of stock at times.
The government said that there is no supply shortage, attributing the situation to panic buying and illegal hoarding by some unscrupulous traders seeking higher profits.