Slashing fuel oil prices in March: Nasrul

DE Online Report
The price of fuel oil will be reduced at the consumer level this month, State Minister for Power, Energy, and Mineral Resources Nasrul Hamid has said.
“Soon, the fuel oil price will be announced following the new rule. A notification will be issued in this regard,” he told reporters at the secretariat on Sunday (March 3).
He said the new price is awaiting Prime Minister Sheikh Hasina’s approval.
On March 1, the Ministry of Power, Energy, and Mineral Resources announced in a notification that the government will set the automatic price of fuel every month in coordination with the international market. Initially, this system will be effective in March.
The notification of ‘Automatic Fuel Oil Pricing Guidelines’ says that this automatic pricing system will be applicable for petroleum products (diesel, kerosene, octane, and petrol) as well as all grades of fuel oil that the government sets the selling price of.
However, if the government or Bangladesh Petroleum Corporation (BPC) deems it necessary, they can apply the said directive subject to conditions in the case of other petroleum products.