Business Desk :
The cost of production, transportation, and shipment has gone up as the prices of LNG, LPG, diesel and kerosene have shot up in Bangladesh recently due to the rise in global prices
Bangladesh’s domestic production, export-oriented production, and consumers are feeling the heat of global inflation which has led to abnormal surges in prices of fuel, energy and primary and intermediary goods.
The cost of production, transportation, and shipment has gone up as the prices of LNG, LPG, diesel and kerosene have shot up in Bangladesh recently due to the rise in global market prices.
Industry insiders said that the price of crude oil has risen in the international market to $80 per barrel – the highest in seven years.
According to the recent Commodity Markets Outlook of the World Bank, energy prices are expected to inch up again in 2022 after surging more than 80% in 2021, fueling significant near-term risks to global inflation in many developing countries.
Hopefully energy prices should start to decline in the second half of 2022 as supply constraints ease, with non-energy prices such as agriculture and metals also expected to ease after strong gains in 2021, said the World Bank.
“The surge in energy prices poses significant near-term risks to global inflation and, if sustained, could also weigh on growth in energy-importing countries,” said Ayhan Kose, chief economist and director of the World Bank’s Prospects Group, which produces the outlook report.
