TDS Desk:

Business leaders and economists have welcomed the recent cut in fuel oil prices, viewing it as a positive step to help entrepreneurs cut operational costs.

They have also urged to empower the Bangladesh Energy Regulatory Commission (BERC) to oversee fuel price adjustments through public hearings.

The interim government announced a reduction in retail petroleum fuel prices for September, aligning tariffs with international market trends.

According to a notification from the Energy and Mineral Resources Division issued on Saturday, diesel and kerosene will now be sold at Tk105.5 per liter, while petrol will be priced  at Tk121, and octane at Tk125.  These new rates went into effect from early Sunday.

However, energy expert M Shamsul Alam criticised the government’s approach, stating that adjusting fuel prices through executive orders, without public hearings, reflects an authoritarian stance.

“This bypassing of public hearings is a violation of consumer rights. We expect the government to strengthen BERC for a more sustainable future,” Prof Shamsul, who is also an energy adviser at the Consumers Association of Bangladesh (CAB), told that.

The price reductions amount to Tk6 per liter for octane and petrol, and Tk1.25 per liter for diesel and kerosene.

Shams Mahmud, president of the Bangladesh-Thai Chamber of Commerce and Industry (BTCCI), said that fluctuations in fuel prices significantly impact business operations.

“This is a commendable initiative to reduce fuel prices. Entrepreneurs, who are currently struggling to revive their activities, will find relief in this decision, as it helps improve efficiency in factory operations,” he told that.