Rationalising fuel prices

WE will appreciate it if the outgoing caretaker government cuts the prices of major fuels, matching the sharp drop in their prices in the international market. It has, of late, made some downward adjustments in administered prices of fuel. But that is not enough to reflect amply well the current price situation in the global markets. Last October, the government had also reduced the fuel price by 13 per cent after the crude oil price came down to 62 dollars a barrel from 141 dollars. Now the price touched down to 33 dollars per barrel. So it should consider further lowering the price -- more than what it has done the other day -- to support the economy run better than before.
Not sure that the international price could go up again, the government prefers to describe the latest cut a "temporary adjustment". The government has to spend a substantial amount to import on an average 300,000 tonnes of crude and refined oils a month.
But we expect the government to rationalise the prices of diesel, kerosene etc, to help the poor improve their financial situation.
Moklesur Rahman
Motijheel,
Dhaka