Bangladesh hikes jet fuel price for second time amid West Asia war

Second Jet Fuel Price Hike in a Month

Due to the war in West Asia, the price of aviation fuel (jet fuel) has been increased for the second time in a month in Bangladesh. For international flights, the price has been raised from USD 0.7384 per liter to USD 1.3216 per liter. The price of jet fuel for domestic flights has been set at 202.29 taka per liter. Previously, it was 112.41 taka per liter.

On Tuesday, in a notification, the Bangladesh Energy Regulatory Commission (BERC) announced the new price of jet fuel. Since May last year, the commission has been adjusting prices once every month. This is the first time the price has been adjusted twice within a single month. In the second phase, the price has been increased by 80 per cent. BERC stated that the second adjustment was driven by a sharp rise in global fuel prices amid the ongoing Middle East war. In this context, BERC announced that the new jet fuel prices, increased for the second time this month, will take effect from midnight tonight.

Aviation Operators Deem Hike ‘Unjustified’

The Aviation Operators Association of Bangladesh (AOAB) has termed the nearly 80 per cent increase in jet fuel prices “unjustified” and called for an urgent review. In a press release signed by AOAB Secretary General Mofizur Rahman following BERC’s announcement, the association said there is no shortage of fuel in the country, as confirmed by the relevant ministry.

Over the past 22 days, around 25 oil tankers have arrived in the country, and the fuel was purchased at pre-determined prices. Moreover, international oil prices have recently declined. In this context, such a significant price hike based on fears of future increases is not reasonable. (ANI)

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