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Published : 19 Apr 2026, 05:28 PM
Power and Energy Minister Iqbal Hassan Mahmood has said the government was forced to raise fuel prices because of the Iran war and its impact on import costs.
Speaking to reporters at the Secretariat on Sunday, he said the adjustment had been made to keep the burden of buying fuel in foreign currency within a tolerable range.
“We were compelled to do this,” he said.
“Fuel has to be bought in foreign currency, so we have taken steps to keep the pressure at a tolerable level.”
Earlier in the day, Iqbal and State Minister for Power and Energy Aninda Islam Amit briefed Prime Minister Tarique Rahman on the latest fuel situation, according to the premier's press aide Atikur Rahman Ruman.
After the meeting, the minister said Bangladesh was facing the effects of a wider wartime situation.
“We are in a wartime situation. The whole world has adjusted fuel prices. Even America has raised prices by $5,” he said.
“We are adjusting prices based on the import costs incurred while building stocks since the start of the war,” the minister said.
Responding to a query, he admitted that subsidies persist: “If you want the exact figures, you must contact the ministry. War inevitably brings adverse effects -- not just to Bangladesh, but globally. We are feeling that impact.”
The government announced new rates for four types of fuel on Saturday night, effective from midnight.
Under the revised pricing, diesel is now Tk 115 per litre, octane Tk 140, petrol Tk 135, and kerosene Tk 130.
The move marks a per-litre increase of Tk 15 for diesel, Tk 20 for octane, Tk 19 for petrol, and Tk 18 for kerosene.
Fuel prices had remained largely stable for months.
Previous monthly tweaks to align with the global market were typically limited to one or two Taka.
However, with the conflict involving Iran driving international oil markets higher, the government implemented a sharp hike of over 10 percent.
A ministry media statement said the new consumer rates were set to maintain parity with rising international prices.
Since the conflict began, jet fuel and furnace oil prices have also been increased several times.
While the government initially suggested a price review might come in May, the decision was brought forward to mid-April to mitigate the mounting pressure of subsidies.
