Govt decides to cut furnace oil price

Govt decides to cut furnace oil price


The government has decided to reduce the price of furnace oil but the figure will be announced in a week, State Minister for Power, Energy and Mineral Resources Nasrul Hamid has said.“We’ve decided to cut the price of furnace oil used in power plants and factories. The amount of the cut will be announced within a week after evaluation,” Hamid said on Monday, speaking to whether the prices of other fuel oils will also be cut, he said, “We’ve made a decision only about furnace oil.”Bangladesh had raised fuel oil prices in 2013 because a global hike in oil prices.

As per the prices fixed then, octane is being sold at Tk 99 per litre, petrol at Tk 96, and kerosene and diesel at Tk 68 a litre.The price of a litre of furnace oil is Tk 60.Though global oil price has been falling for around one and a half years, the government kept oil price unchanged to enable state-owned Bangladesh Petroleum Corporation to offset the losses it had sustained.Prime Minister Sheikh Hasina has recently rejected Finance Minister AMA Muhith and Planning Minister AHM Mustafa Kamal’s proposal to cut the prices following demands by top business bodies including FBCCI and BGMEA.


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