DHAKA, Dec 26, 2024 (BSS) – Bangladesh Petroleum Corporation (BPC) Chairman Amin ul Ahsan today said that there is an opportunity to lower the price of fuel oil in the country.

“Although fuel price is comparatively high at the neighbouring country, the government is working to keep fuel price steady,” he said while replying to a question at a workshop at its Karwan Bazar office.

The chairman said fuel price in India comparatively higher than Bangladesh as difference between India (Kolkata) and Bangladesh is Tk 22 to 25 per litre, adding, “Everything should be transparent and open.

 The BPC has some gray area due to its inefficiency in some areas. But we are working to increase efficiency and solve those.”

In collaboration with the Forum for Energy Reporters’ Bangladesh, the BPC organised the workshop titled “BPC’s role for Country’s Energy Security” with BPC chairman in the chair.

Secretary of BPC Shahina Sultana delivered welcome speech and highlighted various topics and BPC’s history as well as its overall activities for ensuring energy security in the country.

BPC General Manager (Distribution and Marketing) Mohammad Zahid Hossain said price of oil is now tagged with the international market. 

“If the price of fuel increases in the international market, it will increase and if it decreases, then it will decrease in the country,” he said.

The chairman said that the BPC will be able to save Tk 767 crore in July-December 2024 due to reduction of premium costs, as premium cost was reduced through competitive procurement and negotiations.
 
“We have been able to reduce the premium cost to US$8.83 in July-December. Earlier, US$12.03 was paid for fuel oil brought under Government to Government (G to G) method and US$ 9.32 through open tenders,” he said.

Replying to another question, he said if the Chattogram-Dhaka pipeline is launched, the premium cost will further come down. 

Amin Ul Ahsan said, “Our costs have increased slightly due to increase of the dollar price. 

The dollar rate in 2022 was around Tk 86, now we have to pay over Tk 120, which is affecting the price.”

BPC Director (Marketing) Kabir Mahmud, Director (Operations and Management) Anupam Barua and Senior General Manager (Accounts) ATM Selim participated in the workshop.