The government has announced a price increase for diesel, petrol, and octane for June. According to a circular issued yesterday, the price of diesel and kerosene has been raised by Tk 0.75 per liter, while petrol and octane prices have been increased by Tk 2.50 per liter.

Effective June 1, the new prices are Tk 107 per liter for diesel and kerosene, Tk 127 for petrol, and Tk 131 for octane.

The Energy Ministry explained in a press release that despite a decrease in fuel prices on the international market, the local prices had to be raised due to the devaluation of the taka against the dollar.

This adjustment continues the government’s policy, initiated in March, to align local fuel prices with international market rates.

This decision comes amid economic adjustments as the country navigates fluctuations in currency value and global fuel price trends. The ministry emphasized that the ongoing depreciation of the taka has necessitated an increase in domestic fuel prices, even as international prices have declined.

The impact of these price changes on consumers and various sectors of the economy will be closely monitored. Higher fuel prices are expected to affect transportation costs, potentially contributing to inflationary pressures.