Bangladesh spikes fuel prices 50%

Bangladesh has sharply raised fuel prices in response to pressures caused by the increase in global oil prices.

The price of petrol was raised by over 51%, while prices of diesel and kerosene were raised 42.5%.

Prices of petrol in Bangladesh are now at the price equivalent of LKR495/liter, while prices of diesel and kerosene are at the price equivalent of LKR435/liter.

Prices of petrol in Sri Lanka are still lower at LKR450/liter while diesel in Sri Lanka is slightly higher than Bangladesh at LKR440/liter.

Bangladesh has rapidly responded to its economic crisis having approached the IMF while still having close to US$40bn in foreign reserves. Sri Lanka, on the other hand, approached the IMF very late when its reserves were more or less wiped out.

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Author: shehan

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