On the same day that crude oil prices declined in the international market, the BNP government raised fuel prices in Bangladesh.
On Monday (September 21), Brent crude fell by $2.16, or 2.08%, to $101.71 per barrel by around 8:00 am Bangladesh time. Meanwhile, US West Texas Intermediate (WTI) crude fell by $2.15, or 2.14%, to $98.15 per barrel.
According to Reuters, the decline came amid expectations of possible diplomatic efforts to ease tensions surrounding the Iran conflict and signs of a partial recovery in Saudi Arabia’s oil exports.
Meanwhile, Bangladesh’s new fuel prices came into effect from midnight on Sunday. The government increased the prices of diesel, kerosene, octane and petrol by Tk 20 per litre.
As a result, fuel prices in Bangladesh increased on the same day that crude oil prices were declining in the global market.