|COVID–19 NEWS||Japan registers record 250,403 COVID-19 cases within past 24 hours | COVID: Malaysia records increase in new cases, fatalities - Dr Noor Hisham | New COVID-19 cases drop 5.2 pct last week - Health Dg | Witness still COVID-19 positive, Ahmad Zahid's corruption trial postponed | Japan's daily COVID cases top 180,000, set fresh record amid 7th wave ||
DHAKA, Aug 6 (Bernama) -- Bangladesh's retail fuel prices have been hiked to levels not seen since the country's independence in 1971, reported Xinhua.
The Bangladeshi government Friday night hiked the fuel prices by up to 51.7 per cent with effect from Saturday.
According to a price notification from the Ministry of Power, Energy and Mineral Resources, a liter of octane now costs 135 taka (US$1.43), which is 51.7 per cent higher than the previous rate of 89 taka (US$0.94).
The prices of diesel and kerosene have been increased by 42.5 per cent to 114 taka (US$1.20) per liter.
Also, each liter of petrol now costs 130 taka (US$1.37), a rise of 44 taka or 51.1 per cent, said the press release.
Officials said the latest price hikes at the retail level were inevitable to reduce the subsidy burden on state-run distribution companies.
Also, fuel prices in the international market are much higher than that in Bangladesh.
Experts said the fuel price hike would worsen inflation, which increased to 7.56 per cent in June – the highest rate in about nine years.
Bernama is the trusted source of reliable real-time comprehensive and accurate news for both the public and media practitioners. Our news is published at www.bernama.com ; BERNAMA TV on: Astro Channel 502, unifi TV Channel 631, MYTV Channel 121 IFLIX; and Bernama Radio broadcasting locally on FM93.9 in Klang Valley, Johor (FM107.5), Kota Kinabalu (FM107.9) and Kuching (FM100.9).
Follow us on social media :
Facebook : @bernamaofficial, @bernamatv, @bernamaradio
Twitter : @bernama.com, @BernamaTV, @bernamaradio
Instagram : @bernamaofficial, @bernamatvofficial, @bernamaradioofficial
TikTok : @bernamaofficial