Fuel prices to drop by 8-12pc by next week: Tamim
Wednesday, 22 October 2008
Chief Adviser's Special Assistant for Power and Energy Ministry Dr M Tamim Tuesday said the prices of petroleum fuel will be reduced by eight to 12 per cent within this or next week, report UNB and bdnews24.com.
Talking to the reporters in the Energy Ministry, he said the fuel prices will be reduced in accordance with the declining trend of prices in the international market.
He, however, said although the prices in the international market have come down to a half, the government would not go to that limit, as there might be a chance for the petroleum products to be smuggled out to the neighbouring countries taking the advantage of lower prices.
Tamim's remarks came at a time when the Bangladesh Energy Regulatory Commission (BERC) is considering a petition of the state-owned Bangladesh Petroleum Corporation, which is responsible for importing and marketing of the petroleum products.
Finance Adviser Mirza Azizul Islam said Monday night that prices of petrol, octane, diesel and kerosene would come down this week. "The government has already decided about this. The ministry will send a proposal in this regard to the Chief Adviser (CA) in a couple of days," he said. After approval from the CA, the decision will be implemented within a week.
Earlier, the government raised prices of different petroleum products by 36 per cent in July this year when the price of crude oil crossed a benchmark of $147 per barrel. But now the price is coming down to below $70 per barrel.
The CA's special assistant said the government will still have to subside the sale of petroleum products, but the ratio would be less than before. "The world market has been witnessing the price of oil at $70-80 per barrel for the last 20-25 days. The OPEC intends to keep the price within $80-90. It also will depend on international markets."
Talking to the reporters in the Energy Ministry, he said the fuel prices will be reduced in accordance with the declining trend of prices in the international market.
He, however, said although the prices in the international market have come down to a half, the government would not go to that limit, as there might be a chance for the petroleum products to be smuggled out to the neighbouring countries taking the advantage of lower prices.
Tamim's remarks came at a time when the Bangladesh Energy Regulatory Commission (BERC) is considering a petition of the state-owned Bangladesh Petroleum Corporation, which is responsible for importing and marketing of the petroleum products.
Finance Adviser Mirza Azizul Islam said Monday night that prices of petrol, octane, diesel and kerosene would come down this week. "The government has already decided about this. The ministry will send a proposal in this regard to the Chief Adviser (CA) in a couple of days," he said. After approval from the CA, the decision will be implemented within a week.
Earlier, the government raised prices of different petroleum products by 36 per cent in July this year when the price of crude oil crossed a benchmark of $147 per barrel. But now the price is coming down to below $70 per barrel.
The CA's special assistant said the government will still have to subside the sale of petroleum products, but the ratio would be less than before. "The world market has been witnessing the price of oil at $70-80 per barrel for the last 20-25 days. The OPEC intends to keep the price within $80-90. It also will depend on international markets."