BPC incurs Tk 8014 cr net loss in 6-month

Staff Correspondent: In the last six months (from February to July), Bangladesh Petroleum Corporation (BPC) has incurred a net loss of Tk 8 thousand 14 crore 51 lakh by selling fuel oil. The Department of Energy and Mineral Resources has given this information highlighting the rationale for increasing the price of fuel oil.
The government has increased the prices of diesel, petrol, kerosene and octane from 12 pm on Friday (August 5). Prices have increased by Tk 34 per liter of diesel, Tk 34 of kerosene, Tk 46 of octane, Tk 44 of petrol. After the increase in price, diesel has to be bought at Tk 114, kerosene at Tk 114, octane at Tk 135 and petrol at Tk 130.
Earlier, the retail price at the consumer level was Tk 80 per liter of diesel, Tk 80 of kerosene, Tk 89 of octane and Tk 86 of petrol.
The Energy Department has informed in a press release that Bangladesh Petroleum Corporation has made a loss of Tk 8 thousand 14 crore 51 lakh by selling fuel oil (all products) in the last six months (from February to July). Due to the current international oil market situation, rational price adjustments are essential to keep BPC’s import operations normal.
Due to the increase in fuel oil in the world market, the energy department said that India has set the price of diesel at Rs 92.76 per liter and petrol at Rs 106.03 per liter since May 22 in Kolkata by regularly adjusting oil prices in various countries including neighboring countries. This price is Tk 114.09 and Tk 130.42 respectively in Bangladeshi taka (1 rupee = average 1.23 taka).
That is, compared to Kolkata, the price of diesel in Bangladesh was selling at Tk 34.09 per liter and petrol at Tk 44.42 per liter. As the price is low, the price of fuel oil is rising due to the fear of oil smuggling.