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State Minister for Power, Energy and Mineral Resources Anindya Islam Amit has said the government will seek to reduce fuel prices in Bangladesh if the ongoing crisis in the Middle East (ME) eases and international oil prices fall.
He made the remarks while responding to questions from journalists at the Meherpur deputy commissioner’s office premises on Thursday.
Amit said Bangladesh is heavily dependent on imported fuel as the country has no significant domestic production. The region from which Bangladesh imports fuel is currently affected by conflict, which has pushed up energy prices in global markets.
He said Bangladesh has to import fuel using foreign currency, while higher global oil prices, insurance premiums and other import costs have increased the overall expense.
“It had become difficult for the government to keep fuel prices unchanged for a long period without adjustment,” he said.
The state minister said the government had initially tried to manage the situation for around six months but eventually had to take a difficult decision as there were no alternatives.
However, he expressed hope that the Middle East crisis would be resolved soon. If international oil prices decline after the crisis subsides, the government will try to adjust domestic fuel prices downward “very quickly”, he said.
Earlier in the day, Amit attended a meeting with officials of various government departments at the deputy commissioner’s conference room in Meherpur. Deputy Commissioner Shilpi Rani Roy chaired the meeting.
District council administrator and Meherpur BNP president Javed Masud Milton and Superintendent of Police Ujjal Kumar Roy also attended as special guests.
Officials at the meeting briefed the state minister on the activities of their respective departments, development prospects and various problems facing the district.