Energy Bangla

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Dhaka Thursday,  Jul 27, 2017

We Cannot Just Lower The Oil Price For Now : Nasrul

EB Report

The government has no plan or option to bring down the price of oil for now as the global price of oil is in up trend, said the state minister for Power, Energy and Mineral Resources Nasrul Hamid.

He said so to the reporters, after a deal signing ceremony between Bangladesh Petroleum Corporation and French company Technip that took place in the city on Wednesday.

He also said that, earlier the government had a plan to lower the price of imported fuels. But the situation has changed as the global market has started showing a steady upward trend, he said. Even the World Bank hinted on the upcoming steady rise in the oil price in the months to come in this year. “In a scenario like this we cannot just bring down the oil price”, he added.

However, on several occasions, Finance Minister AMA Muhith claimed that the government had a plan to cut the oil price slightly in this January.

The government lowered the prices of octane and petrol by Tk 10 per liter and that of kerosene and diesel Tk 3 per liter on October 24 last year.

After that price cut, octane is now selling at Tk 89 a liter, petrol at Tk 86 and diesel and kerosene at Tk 65 a liter. Besides, the price furnace oil was lowered to Tk 42 from Tk 60 a liter in March this year.

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