With the aim of reviewing the price of fuel oil, Finance Minister AMA Muhith has said he will schedule a meeting with top officials of Bangladesh Energy Regulatory Commission.
Before revising the price, the government would also have to consider that Bangladesh Petroleum Corporation had been suffering losses for a long time, the BERC chief said .
Although the current price of crude fuel oil stands at $45.04 per barrel in the global market, the BPC has proposed importing 1.3 million tonnes of fuel at the cost of $72 per barrel.
The global price has experienced a downward slide since the price reached as high as $115 per barrel in June last year.
Following pressure from different quarters, Muhith in his budget speech hinted the local prices might be revised to match international prices.
On Wednesday, Muhith said he would fix a date for a meeting to revise the fuel oil price in light of the global prices.
BERC Chairman AR Khan told journalists that they were not considering a reduction in the prices as many countries did not reduce jet fuel prices.
Earlier this week, Muhith hinted at revising oil prices at retail level within a month.
“First I will sit with the Energy Division, which has already prepared papers for revising oil prices. Then, I will meet the energy commission to set the price,” he said on August 23.
Muhith further hinted that the changes might come before his visit to New York in September.
Source: Ittefaq
