Bangladesh raises petroleum prices

By IANS,

Dhaka : The Bangladesh government Sunday night raised prices of all petroleum products by five to eight taka per litre, the energy ministry said.

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The ministry said the price increase was needed to adjust with the international market price and reduce the subsidy given by the government, Xinhua reported.

The new prices will be effective from 12 a.m. Monday.

Kerosene and diesel will be sold at 51 taka (around $0.67) per litre instead of the previous 46 taka. The price of petrol increased to 81 taka (around $1) per litre from the previous 76 taka.

The ministry said despite increasing prices, the government is to give subsidy of 20.35 taka per litre of kerosene and diesel and 8.81 taka in petrol.