Bangladesh's government announced Monday it was raising state-set prices for fuels used for transportation and cooking by between 34 and 66 percent due to the sharp rise in global prices.
Starting Tuesday, the price of diesel and kerosene is to go up by 37.5 percent to 55 taka (80 US cents) per litre (0.26 gallon), while petrol prices will increase by 34 percent to 87 taka per litre, energy ministry spokesman Afrazur Rahman said. The price of furnace oil, used in small factories, has been increased by 50 percent and the cost of a cylinder of gas used for cooking will go up by 66 percent, he said.
"The prices of petroleum products have been increased due to the massive increase in global oil prices. It has been putting huge pressure on the government's budget," he said.
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