Special Correspondent :
The Energy Division has taken a fresh move to cut fuel oil prices by Tk 5 to Tk 10 per litre to pass on the benefit of falling oil prices in the international market to the local consumers, officials said.
They said, the division has recently sent a proposal in this regard to the Prime Minister’s Office (PMO) for its consent.
The officials, however, could not ascertain when the price reduction will be made.
“We have already sent a proposal to the government high-ups in this regard. If they endorse the proposal positively, we will formally launch the procedure to slash the domestic oil prices,” Nasrul Hamid Bipu, State Minister for Energy and Mineral Resources, told The New Nation yesterday.
The State Minister, however, declined to give details of the proposal and the range of price cut.
Earlier, on April 25 this year, the government cut fuel oil prices by Tk 3 to10 per litre following demands from businesses.
They came up with the call since mid-2014 when petroleum prices started falling in the global market.
Oil prices plummeted 66 per cent on the international market since June 2014.
On March 31, the government cut the price of furnace oil, mostly used by industries and power plants, by more than 30 per cent to Tk 42 a litre. The prices of diesel, petrol and octane were not adjusted at that time.
A senior Energy Division official told The New Nation on Friday that they have sent the proposal to the PMO suggesting to cut the prices of octane, petrol, diesel and kerosene prices by Tk 5 to Tk 10 for per litre.
“Energy Division in its proposal, however, refrained from fresh price cut for furnace oil,” he added.
“Received upon our proposal, the PMO has asked to know the current state of affairs of the Bangladesh Petroleum Corporation (BPC) and the impacts of the previous fuel price cut on the local economy,” said the official asking not to be named.
The BPC is now making a profit of Tk 27.75 a litre on octane, Tk 23.50 on petrol, Tk 15.75 on diesel and Tk 16.75 on kerosene.
The price of per litre diesel and kerosene is now Tk 65, octane Tk 89 and petrol Tk 86.
To the price cut proposal of the Energy Division, the PMO also said that a further reduction in fuel prices would be made if consumers benefit from this price cut and the prices of products and services that depend on oil ultimately go down.
When asked, he said, if everything remains okay, the consumers may see a further price cut in fuel oil prices by next month.
The Energy Division has taken a fresh move to cut fuel oil prices by Tk 5 to Tk 10 per litre to pass on the benefit of falling oil prices in the international market to the local consumers, officials said.
They said, the division has recently sent a proposal in this regard to the Prime Minister’s Office (PMO) for its consent.
The officials, however, could not ascertain when the price reduction will be made.
“We have already sent a proposal to the government high-ups in this regard. If they endorse the proposal positively, we will formally launch the procedure to slash the domestic oil prices,” Nasrul Hamid Bipu, State Minister for Energy and Mineral Resources, told The New Nation yesterday.
The State Minister, however, declined to give details of the proposal and the range of price cut.
Earlier, on April 25 this year, the government cut fuel oil prices by Tk 3 to10 per litre following demands from businesses.
They came up with the call since mid-2014 when petroleum prices started falling in the global market.
Oil prices plummeted 66 per cent on the international market since June 2014.
On March 31, the government cut the price of furnace oil, mostly used by industries and power plants, by more than 30 per cent to Tk 42 a litre. The prices of diesel, petrol and octane were not adjusted at that time.
A senior Energy Division official told The New Nation on Friday that they have sent the proposal to the PMO suggesting to cut the prices of octane, petrol, diesel and kerosene prices by Tk 5 to Tk 10 for per litre.
“Energy Division in its proposal, however, refrained from fresh price cut for furnace oil,” he added.
“Received upon our proposal, the PMO has asked to know the current state of affairs of the Bangladesh Petroleum Corporation (BPC) and the impacts of the previous fuel price cut on the local economy,” said the official asking not to be named.
The BPC is now making a profit of Tk 27.75 a litre on octane, Tk 23.50 on petrol, Tk 15.75 on diesel and Tk 16.75 on kerosene.
The price of per litre diesel and kerosene is now Tk 65, octane Tk 89 and petrol Tk 86.
To the price cut proposal of the Energy Division, the PMO also said that a further reduction in fuel prices would be made if consumers benefit from this price cut and the prices of products and services that depend on oil ultimately go down.
When asked, he said, if everything remains okay, the consumers may see a further price cut in fuel oil prices by next month.
