The decision to raise fuel prices by 20 taka per liter in a single stroke has generated anger and dissatisfaction among common people. Consumers, transport workers, and business owners fear that the impact of the new prices will increase transport costs as well as further raise the prices of essential goods and services. Meanwhile, although the government has provided an explanation for the price hike, people's anxiety and anger are not subsiding.
The new prices for diesel, kerosene, octane, and petrol came into effect from Monday. Per liter diesel has been set at 135 taka, kerosene at 155 taka, octane at 165 taka, and petrol at 160 taka. As a result, the cost of all types of fuel has increased compared to the previous prices.
The impact of the fuel price hike is likely to fall most heavily on public transport, freight transport, agriculture, and small businesses. Many concerned individuals fear that if transport costs rise, its impact will gradually fall on the market, further increasing the daily expenses of ordinary people.
Government cites global market volatility
Meanwhile, Information and Broadcasting Adviser Zahedur Rahman gave the government's explanation regarding the fuel price hike. He said that the government was forced to make the difficult decision due to instability in the international market, risks in the supply chain, and the ongoing situation in West Asia.
According to his statement, the price of crude oil in the international market has risen above 100 dollars per barrel. Events such as the crisis in the Red Sea and the Bab el-Mandeb strait, Houthi attacks, Saudi Arabia's export restrictions, and drone attacks in the Russia-Ukraine war have created uncertainty in fuel supply and transportation systems.
The Information Adviser also stated that the current budget includes an allocation of 48 thousand crore taka as subsidies in the gas and electricity sectors. He mentioned that nearly half of this was spent within the first two and a half months of budget implementation. He also commented that the pressure of subsidies could affect allocations for the social safety net, education, and health sectors.
However, amidst these explanations from the government, concerns persist regarding the additional expenditure pressure created on common people due to the fuel price hike. Especially, it is feared that the impact of the diesel price increase will quickly fall on public transport and freight transport.
Concerns over transport costs and market prices
The government has announced initiatives to keep transport fares at a rational level and to increase the scope of Open Market Sale (OMS) activities and family cards for low-income people. The Information Adviser also mentioned the expansion of family card activities starting from October.
Meanwhile, consumers fear that after the fuel price hike, the extra expenditure burden on transport owners and businesses will ultimately fall on ordinary people. If freight transport costs increase, the prices of food, clothing, and other daily necessities may also rise. This will increase a family's monthly expenses even while income remains unchanged.
Anger has appeared among people of various classes and professions over the fuel price hike. They complain that because the cost of living was already elevated, the fresh increase in fuel prices has created an extra burden for ordinary people. Alongside the government's explanations, they have demanded effective steps to tackle this public suffering.
