The government has increased retail prices of diesel, kerosene, petrol and octane for the month of May. The retail gas price for power plants was also hiked.

As per a gazette notification on the last day of April, the prices of diesel and kerosene was raised by Tk 1 to 107 per litre from, existing Tk 106 while the price of petrol was set at Tk 124.50 per litre from Tk 122, up by Tk 2.50 per litre and octane price was set at Tk 128.50 per litre from Tk 126, up by Tk 2.50.

The new prices will come into effect from May 1.

The Energy and Mineral Resources Division set the new automated price through a gazette notification as per the government decision on Tuesday.

The first automated price came into effect on March 7.

Issuing the gazette notification in this regard, the Ministry of Power, Energy and Mineral Resources in a clarification said that the new prices have been in line with the prices of the petroleum on the international market.

Earlier, the government on March 1 issued a “Fuel Pricing Guidelines” through a gazette notification to set an automated price for the petroleum fuel across the country.

It said the local prices will go up and down in line with the international price and every month such prices will be announced by the government for one-month tenure.

Meanwhile, in a separate gazette notification the government also raised gas prices for power plants.

As per the notification, the power plants will pay Tk 15.50 per cubic metre (each unit), upo by Tk 0.75 while captive power plants will pay Tk 31.50 per unit, up by Tk .75 until further order.

The price will be effective from May 1, that is tomorrow (Wednesday), said the notification.