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Download PDF The government will take a decision on whether or not to decrease the price of petroleum within a month after analysing prices in the global oil market.
Special Assistant to the Chief Adviser for Power and Energy Ministry Prof M Tamim said yesterday, “The government will observe the global trend in prices before making any adjustments.”
He was talking to reporters after a meeting with the finance adviser on ‘automated price formula for petroleum product’ at his office.
He said the petroleum price would be adjusted every three months. The adjustment on the price of oil will be subject to a 10 percent fluctuation from the global price.
The price of oil in the global market rose to US$150, following which the government increased the price of petroleum by a record percent. Recently, the price of oil price has gone down below US$90 in the international market.
Tamim told reporters that the yesterday’s meeting discussed on which grounds the government would reduce the price of oil. He added that the government would consider public interest first in case of any price cuts.
He said the government would continue its subsidy on diesel and kerosene, even after adjusting other petroleum prices in every three months.
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