Shawdesh Desk:

The government is considering lowering fuel prices to ease the sufferings of the people.

“Taking the sufferings of the commoners into cognizance, the government has been thinking about readjusting the fuel price,” a highly placed source told the Daily Sun on Tuesday.

The recent fuel price hike has affected every sector, triggering widespread criticism from various quarters.

The government drew sharp criticism as people had already been struggling to cope with the rising cost of living due to the Ukraine-Russia war and the impact of the coronavirus pandemic.

Citing the price of fuel higher in the international market, the government on August 5 hiked fuel prices by up to 51.7 per cent, the highest in the country’s history.

As per the new decision, a litre of octane now costs Tk 135, some 51.7 percent higher than the previous rate of Tk 89 while a litre of petrol now costs Tk 130, a rise of Tk 44 or 51.1 percent.

The price of diesel and kerosene has jumped to Tk 114 from Tk 80 per litre.

Prime Minister Sheikh Hasina on Tuesday hinted at taking measures to stabilise commodity prices.

“Price of essentials has gone up. I believe it is urgently needed to take more measures to bring down the price of essentials to a tolerable level,” she said while addressing a meeting of the Executive Committee of the National Economic Council (ECNEC).

Sheikh Hasina said her government understands the sufferings of people caused by a fresh surge in essential prices due to the global economic crisis.

“I know essentials price has shot up due to recent hike in fuel price. The lower, lower middle, middle and fixed-income groups of people are suffering the most from the essential price hike,” she said.

Sheikh Hasina, also the president of the ruling Awami League, on August 14, expressed her hope for cutting down the oil price with the fall in fuel prices in the global market.  A section of people, including the opposition Bangladesh Nationalist Party, is trying to fish in troubled water cashing the oil price hike.

They are also spreading rumours and misleading the people.

The premier directed the energy ministry and Bangladesh Petroleum Corporation (BPC) to clarify the reasons behind the price hike to the people to remove the confusion being fueled by the various quarters.

Earlier, State minister for power and energy Nasrul Hamid urged all to keep patience while the government is making its best efforts to overcome the crisis caused by the soaring fuel price in the international market.