Govt to bear Tk 70/litre diesel loss after price hike: Rizvi 

Despite the Tk 20-a-litre increase in fuel prices, the government will incur a loss of around Tk 70 per litre on diesel, BNP Acting Secretary General Ruhul Kabir Rizvi said on Monday.

He said the government had little alternative but to adjusting fuel prices in view of the current international market situation. However, the government would still have to bear the remaining cost through subsidies, he added. 

Rizvi made the remarks at a press conference at the BNP central office in Nayapaltan in the capital, following a joint meeting with leaders of the party's affiliated bodies, associate organisations and professional groups.

He said diesel was selling at Tk 115 a litre until Sunday and the price had increased to Tk 135 from Monday following the Tk 20 increase.

According to Rizvi, the country has to purchase diesel at about Tk 205 a litre. At the previous price of Tk 115, the government was therefore bearing a loss of around Tk 90 per litre. Even at Tk 135, the loss would remain around Tk 70 per litre, he claimed.

Rizvi said Bangladesh consumes around seven million tonnes of fuel oil annually, of which diesel accounts for about 4.5 million tonnes. 

Rizvi said the ongoing conflict in the Middle East had put additional pressure on fuel supplies and prices, particularly because of uncertainty surrounding the Strait of Hormuz, a major route for oil transportation.

“Where would they source it from for us? It has to be purchased. There is no alternative to price adjustment,” he said, referring to the Tk 20 increase.

He urged those criticising the fuel price increase to suggest alternatives for supplying fuel at lower prices. He also said the government was trying to maintain a steady supply of gas and fuel by sourcing them from different countries.

Rizvi also alleged that recent incidents of violence and arson across the country were orchestrated to create instability and divert public attention from the government's development and social safety programmes.

He alleged that forces other than the ousted Awami League might also be involved in the incidents. He further claimed that some associates of the previous government who remain in the administration were attempting to create unrest.

He said efforts were underway to identify those involved and take action against them.