Reducing transport fares

The recent reduction in fuel prices by the government for the month of September, following trends in the international market, is a welcome move. Effective from midnight, diesel and kerosene will be priced at Tk 105.50 per litre, while petrol and octane will drop to Tk 121 and Tk 125 per litre, respectively. The Ministry of Power, Energy and Mineral Resources issued a gazette notification confirming these changes.
However, this reduction in fuel prices raises an important question: will transport operators adjust their fares accordingly? History suggests that while transport operators are quick to raise fares in response to fuel price hikes, they are resistant when it comes to reducing them when fuel prices fall. This pattern is both unfair and economically burdensome for the public, particularly for those who rely on public transport daily.
The decrease in fuel prices should logically lead to a corresponding reduction in transport fares. It is crucial for the relevant authorities to take immediate action to ensure that transport fares are adjusted in line with the new fuel prices.
Faruk Azam
Agrabad, Chattogram