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Despite the latest adjustment raising the price of diesel to Tk135 per litre, Bangladesh’s retail diesel price remains lower than that of many regional and Asian countries.
According to Global Petrol Prices, Bangladesh’s diesel price is equivalent to US$1.092 per litre, based on an exchange rate of Tk123.65 per US dollar.
Although the government increased the diesel price by Tk20 per litre in the latest adjustment, it remains lower than prices in several Asian countries.
Among Asian countries, diesel is priced at Tk185.48 per litre in Pakistan, Tk177.81 in Indonesia, Tk173.23 in South Korea, Tk168.53 in the Philippines, Tk164.83 in Myanmar, Tk161.24 in Nepal and Tk146.77 in China.
In Vietnam, diesel costs Tk137 per litre, just Tk2 higher than in Bangladesh.
The price difference is even more pronounced compared with major developed economies. Diesel costs Tk580.54 per litre in Hong Kong, Tk347.83 in Germany, Tk329.40 in France, Tk317.78 in the United Kingdom and Tk291.32 in Sweden.
Diesel is priced at Tk222.69 per litre in Canada and Tk205.26 in the United States, which are Tk87.69 and Tk70.26 higher than Bangladesh’s price, respectively.
The international comparison also shows that Bangladesh’s other petroleum products remain below international average retail prices.
Bangladesh’s latest octane price of Tk165 per litre is around 15 percent below the international average retail price of Octane-95 gasoline. According to Global Petrol Prices, the international average stood at US$1.57 per litre on September 14, equivalent to approximately Tk194.12 at an exchange rate of Tk123.65.
Similarly, Bangladesh’s new petrol price of Tk160 per litre is about Tk34.12, or 17.6 percent, lower than the international Octane-95 gasoline benchmark.
The new kerosene price of Tk155 per litre also remains below the international average.
Global Petrol Prices put the average retail price of kerosene at US$1.34 per litre on September 14, equivalent to approximately Tk165.69. Thus, Bangladesh’s domestic kerosene price is around Tk10.69, or 6.5 percent, lower than the international average.
The government revised domestic fuel prices amid changes in international fuel prices and other market factors. The revised prices came into effect on September 21.