DHAKA: Government has decided not to cut the oil price following its upward trend in international market.

State minister for power and energy Nasrul Hamid Bipu came up with this assertion while talking to reporters at city’s secretariat on Wednesday (January 18).

However, finance minister Abul Maal Abdul Muhith made the remark in December last year that there was high chance of oil price reduction.

On April 24, 2016, the government had reduced the diesel and kerosene prices by four percent while octane and petrol prices by 10 percent. The price of furnace oil has also decreased by Tk 12.

The decision was taken following the oil price cut in international market twice.

Regarding the issue, the state minister said they sent a letter to government proposing to reduce the oil price. But, considering its rapid lower trend the government decided not for price adjustment.

BDST: 1854 HRS, JAN 18, 2016
BD/SMS