BERC backtracks on earlier decision to raise jet fuel prices

The Bangladesh Energy Regulatory Commission has backtracked on its decision to raise jet fuel prices.

At an emergency meeting held today (Wednesday), the commission decided to increase jet fuel prices by around 73 percent at one go.

In a notification issued in this regard, it was said that the new prices would come into effect from midnight.

About an hour later, another notification from the commission said that the implementation of the revised jet fuel price has been suspended.

Earlier, in its first notification, the commission cited the impact of Iran’s blockade in the Strait of Hormuz and the ongoing tensions in the Middle East while announcing the new prices.

Accordingly, for domestic routes, the price of jet fuel was set to be increased from Tk 112.41 per litre to Tk 194.18 per litre, raising the price by Tk 81.77 per litre.

For international routes, the price of jet fuel was also increased from $0.7384 per litre to $1.2689 per litre. The notification had said the new prices would be effective from midnight.

Sources at BERC said a meeting of the commission is likely to be held on March 25, from which a decision may be announced on increasing of jet fuel price.