The government has hiked the diesel price by Tk 1 per litre, and petrol and octane prices by Tk 2.50 per litre.

The new price will be effective from May 1 (12:00am tonight), said a gazette of the Ministry of Power, Energy and Mineral Resources.

According to the gazette, after the price hike, a litre of diesel will cost Tk 107 while the petrol price will be Tk 124.50 and octane will be Tk 128.50.

The government has taken a policy to adjust local fuel prices with the international market from March this year.

In April, the price of diesel and kerosine was reduced by Tk 2.25 per litre with an automatic pricing formula but the petrol and octane remained unchanged.

In the first adjustment of March, diesel and kerosene prices had decreased by Tk 0.75, Octane dropped by Tk 4 and petrol by Tk 3.