Muhith hints at oil price cuts in January

28 December 2016, 8:25:17

Staff Correspondent:Finance Minister AMA Muhith on Wednesday hinted that local fuel prices may decrease in January in line with the falling prices in the global market.

The minister came up with the assertion while answering to the question of journalists at the dividend cheque distribution ceremony of Sadharan Bima Corporation at his office.

“We will take the final decision after a meeting with the Prime Minister”, he said.

“The proposal must be sent to the prime minister as it falls under her jurisdiction. We have not been able to send it yet,” he added.

Though the global price of oil has been declining for two years, the government had kept oil prices unchanged to compensate the Bangladesh Petroleum Corporation for its losses.

On 24th April this year, the price of diesel and kerosene was reduced by about 4 percent and the price of octane and petrol was brought down by approximately 10 percent. A few days earlier the price of a litre of furnace oil was reduced from Tk 60 to Tk 42.

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