No immediate fuel price hike

The government will not immediately increase fuel prices, even if oil prices rise in the international market due to the Israel-Iran conflict, said Finance Adviser Salehuddin Ahmed yesterday.

"We bought at the previous price, so there will be no impact on fuel prices," he told journalists when asked whether the conflict could drive up fuel prices in Bangladesh.

He also said the interim government was observing the situation.

"Although global prices have risen slightly, our current orders remain unaffected," he told journalists following meetings of an advisory committee on economic affairs and an advisory committee on government procurement at the Bangladesh Secretariat.

In the meetings, the government approved a proposal to purchase one cargo of liquefied natural gas (LNG) from US-based Excelerate Energy at a cost of Tk 612.54 crore.

In other words, the government will purchase LNG from Excelerate Energy at $15.17 per million British thermal units (MMBtu).

Asked whether trade has been affected so far, the adviser said, "No, there will be no impact on trade for now."

He also said the government was taking precautions by securing essential imports. "The special preparations are the proposals to bring LNG and fertiliser at the old price. In future, if we import again, there may be some effect," he said.