Dhaka bangladesh bbn the government on thursday raised furnace oil price by five bangladesh taka bdt per litre to bdt 40 aiming to reduce losses of state owned oil marketing firm officials said.
Furnace oil price in bangladesh.
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With the newly imposed tax by the national board of revenue or nbr the price would be around tk 29 per litre he said.
The decision on reducing the price came after the move by the private sector to purchase around 10 per cent of its total requirement from the bangladesh petroleum corporation and around two weeks after imposition of import duties on the fuel.
Bangladesh s annual need for fuel oil rose to over 5 million tonnes a few years ago due to oil run power.
The price of furnace oil had been fixed at tk 60 a litre and that has now been cut.
The price of heating oil is 34 03 bangladeshi taka per liter for comparison the average price of heating oil in the world for this period is 66 65 bangladeshi taka.
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The new rate was made effective from thursday a bangladesh petroleum corporation bpc senior official said.
Bangladesh had raised fuel oil prices in 2013 because a global hike in oil prices.
As per the prices fixed then octane is being sold at tk 99 per litre petrol at tk 96 and kerosene and diesel at tk 68 a litre.
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Import price of furnace oil by the private sector currently hovers around tk 17 per litre said president of bangladesh independent power producers association bippa imran karim.
Heating with oil has always been synonymous with efficient and comfortable heat thanks to its greater heating value.
The price of a litre of furnace oil is tk 60.
The government is set to cut furnace oil price in the local market in a couple of days a senior energy ministry official told the fe on saturday.