Diesel, petrol, octane prices reduce by Tk 5

The government has taken decision to reduce diesel, petrol and octane prices by Tk 5.

As per the new price, per liter diesel is Tk 109, petrol Tk 125, and octane Tk 130.

The new prices of diesel, kerosene, octane and petrol will be effective from Monday night, said State Minister for Power, Energy and Mineral Resources Nasrul Hamid.

The decision to cut the prices came after the authorities on Sunday lowered the duty on diesel imports to 5 per cent from 10 per cent. The finance ministry also waived advance tax on diesel imports.

Officials at the National Board of Revenue said the latest decisions mean taxes for diesel imports have been reduced by 11.25 percentage points to 22.75 per cent overall.

As production and transport costs went up due to the fuel oil price hike, traders raised prices of all commodities, from bus fares to the prices of rice and eggs.

To cool off the prices of rice, the government on Sunday lowered the regulatory duty on rice imports to 5 percent from 25 percent and waived all import duties.

The government increased the price of fuel oil from 42 to 52 percent at the beginning of this month in order to reduce the subsidy.

That time, the price of diesel per liter was fixed at Tk 114, kerosene at Tk 114, octane at Tk 135 and petrol at Tk 130.