Published: 11:37 PM, 23 September 2026
Fuel prices to be slashed once global market stabilizes: Amit
State Minister for Power, Energy and Mineral Resources Aninda Islam Amit on Wednesday said fuel prices in Bangladesh will be reduced once the international market stabilises and the Middle East crisis eases.
"The fuel price hike is an unavoidable consequence of the global situation. It was not a deliberate decision by the government, but a necessary step taken amid the global economic crisis and in the interest of border security," he said.
The state minister made the remarks while responding to questions from journalists after a meeting with government officials, local elected representatives and civil society members at the Jhenaidah deputy commissioner's office, UNB reports.
Amit said Bangladesh could not remain isolated from global developments and had to adjust domestic fuel prices because of the ongoing global crisis and the significant price gap with neighbouring countries.
He said fuel prices, shipping costs and insurance expenses in the international market have risen significantly from March to August, but the government did not increase domestic prices during the period. "As a result, the Bangladesh Petroleum Corporation (BPC) incurred losses of around Tk 22,875 crore," he said.
The state minister said the price adjustment was also necessary to prevent fuel purchased with foreign currency from being smuggled to neighbouring countries.
"We cannot allow fuel bought with the hard-earned money sent by our expatriate brothers and sisters to be smuggled to neighbouring countries by taking advantage of lower prices," he said.
Amit expressed hope that fuel prices could be reduced once the international market returns to normal.
"Once the Middle East crisis is over and the international market stabilises, fuel prices in the domestic market will be reduced immediately.
If conditions remain favourable, there will be an opportunity to reduce prices even below their previous levels," he said.
On possible power shortages during the upcoming Boro irrigation season, the state minister said ensuring uninterrupted electricity supply to farmers, particularly in rural and marginal areas, remains a priority.
He said the government is working to ensure uninterrupted power supply during the Boro season and has plans to expand modern solar-powered irrigation systems to help farmers reduce irrigation costs.
The meeting was attended by Jhenaidah-2 MP Ali Azam Mohammad Abu Bakr, Jhenaidah-3 MP MotiarRahman, Prime Minister's Political Assistant Rashed Khan, Deputy Commissioner MdNomanHossain, Superintendent of Police Mia Mohammad Ashish Bin Hasan, ZilaParishad Administrator and district BNP President Advocate Md Abdul Majid, General Secretary Zahiduzzaman Mona, District Bar Association President KaziEkramulHaque, Jhenaidah Press Club President AsifIqbalMakhan.
