Bangladesh Petroleum Corporation (BPC) has fixed the price of jet fuel for domestic destinations at Tk 99 per litre. The national organization announced this statement in a circular on Wednesday.
In September of last year, the price of jet fuel per litre was Tk 125, in October it increased by Tk 5 and became Tk 130, in November it was Tk 125 after it reduced by Tk 5, and in December it further decreased by Tk 4 and went down to Tk 121. Then in January, the price was further reduced to Rs.112.
Meanwhile, on October 26, 2022, BPC increased the price of jet fuel by Tk 5 to Tk 130 and reduced the price of jet fuel by 9 cents to make it 1 dollar per litre for international destinations. In this situation, on 6 November 2022, the Aviation Operators Association of Bangladesh (AOAB) wrote a letter to Nasrul Hamid, Minister of State for Power, Energy and Mineral Resources.
In the letter, they claim that Padma Oil is charging more for jet fuel in the country than in the international market. Due to this, the aviation sector is facing a crisis. With this argument, they gave three proposals to the Ministry of Power, Energy and Mineral Resources as an alternative to Padma Oil’s monopoly business. Their three proposals were, permitting domestic private sector airlines and helicopter operators to purchase fuel directly from Pertex Petroleum, allowing the import of jet fuel from abroad at competitive prices if necessary and harmonizing domestic fuel prices with international flight fuel prices.
In this situation, BPC has revised the price of jet fuel after considering their demands.
Incidentally, two years ago, the price of fuel used in planes was only Tk 46 per litre. Due to the effects of Covid-19 and the Russia-Ukraine war, fuel prices continued to reach Rs 130 per litre, which is an increase of 127 per cent.