Staff Reporter :The government is expected to announce cut in domestic prices soon on back of falling international crude oil rates. “The price cut of furnace oil would be announced in a week. A circular would be issued soon to this effect,” State Minister for Power and Energy Nasrul Hamid told The New Nation on Monday night.He said, reduction will be made in octane prices in the phase and then a similar downward price adjustment will be made for diesel, petrol and octane in the next phase. “Price reduction for diesel, petrol and octane prices may be announced within a month,” he said. The government made changes to the domestic oil prices on January 04, 2013.When asked, Nasrul Hamid said, the price of furnace oil may be reduced by Tk 15-16 per litre. But the range of price cut for per litre diesel, petrol and octane is yet to be finalized.The government kept domestic fuel prices unchanged despite their unabated price fall in global market from June 2014 as part of its plan to allow the Bangladesh Petroleum Corporation (BPC) to recoup its losses. BPC, which had never made profit over the past 14 years of its operations since 2001-2002 fiscal year, bagged a profit worth around Tk 5,268 crore in last fiscal year.
