The government will lower fuel prices after months of resisting downward revision despite the freefall of global oil prices. The prices of fuel oil in the domestic market would be re-fixed in September by adjusting them with the international prices, Finance Minister AMA Muhith said on Sunday.
The steady fall in the international market for over a year has made it clear that oil prices in Bangladesh will drop after adjustment. After meeting IMF Executive Director Rakesh Mohan at his office, Muhith told reporters: “Oil prices have fallen significantly in the international market. We’ll have to revise them as well.” He said the Energy and Mineral Resources Division was asked to make a report analysing data on the issue.
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