Fuel prices
Photo: STAR
With the increase of price of fuel in the world market Bangladesh also increased it a few months ago. In the world market, price of petrol increased from 70 US $ to 140 US $ and the government of Bangladesh had no other alternative but to increase the price. Petrol price was increased from Tk 65 to 87 and diesel from Tk 40 to 55 per litre (about 38 % increase).With the hike of fuel price, there was an adverse effect on world economy. Bangladesh was not an exception. Although the people of Bangladesh cannot afford the high price, considering the world situation they accepted it without any protest. Cost of fuel is the prime factor of fixation of prices of agricultural and industrial products and transport fares. Prices of all products and transport fares increased with the hike of fuel price in Bangladesh. But wages and income of labourers, farmers and general people did not increase Poverty has increased tremendously. The aftermath of which can be observed easily. In the world market the fuel price has been reduced to about 70 US $.Most of the countries cut the fuel price accordingly. Bangladesh has also reduced the price of fuel up to maximum 12%. It means the price of petrol will come down to about Tk 77 and diesel to Tk 48 per litre. The Special Assistant to the Chief Adviser explained that in order to check smuggling of fuel the cut would not be much. It is really astonishing! Any government, elected or un-elected, use this phrase all the time. The general people of Bangladesh are very simple and honest. If we calculate the price of petrol of India and Bangladesh, we can find that as per valuation of currency of both the countries, the price is more or less the same. Present rate of US 1$ in Bangladesh is Tk 69 and in India it is Rs 48.So Bangladeshi Tk 100 is equivalent to Indian 70 Rs. When the price of petrol was Tk 87 per litre, it should have been Rs. 60 in India. But in India the price of petrol is Rs. 57 per litre as of today. It is learnt that India is going to cut the price within a week. How will fuel then be smuggled out to India? If we agree that fuel will be smuggled out to India if its price is lowered, I would request the government to raise the price to Tk 100 per litre and give back Tk 40 (per litre) to the customers upon production of bills. It is hoped that the consumers will then not be affected and all industrial and agricultural products and transport fares will come down to a reasonable level.
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