Staff Reporter :
The government has reduced the price of furnace oil by Tk 18 per litre, which will be effective from midnight on Thursday.
The new price of furnace oil is Tk 42 per litre. The Power, Energy and Mineral Resources Ministry has issued a gazette notification in this regard.
The country’s state-run Bangladesh Petroleum Corporation (BPC) imports oil from 13 international companies. At present, the BPC imports around 1.2 million tonnes of crude oil and 4.2 million tonnes of refined oil. Besides, about 300,000 tonnes of petroleum products are received from different gas fields and private fractionation plants.
Crude oil is processed only at Eastern Refinery Limited to produce diesel, petrol, octane, furnace oil and liquefied petroleum gas.
The BPC had adjusted oil prices upwards in 2013 when the rate of the liquid commodity per barrel rose to $122 in the international market. It fixed per litre octane price at Tk 99, petrol at Tk 96, diesel at Tk 68 and furnace oil at Tk 60 at the time.
The state-owned enterprise has been maintaining the same prices though the oil price dropped to less than $40 a barrel globally in the last two years.
