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Brunei
Friday, September 30, 2022
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Friday, September 30, 2022
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    Bangladesh price hike on fuel ‘ruthless’, says opposition

    ANN/DAILY STAR – Jatiya Party Chairman and Deputy Leader of opposition GM Quader yesterday said the more than 51 per cent fuel price hike is a ruthless and unprecedented decision.

    He stated that such a rise in fuel prices would cause a major catastrophe in people’s lives.

    “This has proved that the government has no mercy towards the people of the country,” the JP chief said in a statement.

    GM Quader requested the government to reconsider the anti-people decision.

    The price of fuel around the world is now on a downward trend. Benchmark crude oil prices have fallen by 29 to 30 per cent in the last four-five months at various locations. US benchmark West Texas Intermediate (WTI) oil prices fell below USD89 per barrel, the price of which rose to USD124 last March. International benchmark Brent crude is selling at USD94 per barrel, the JP leader said. “While prices have started to fall around the world, the rise of fuel prices in the country has disappointed all quarters,” added the JP chief.

    In the statement, the JP chairman also said the transportation cost will increase due to this.

    The price of daily essentials will increase by a large number. Besides that, the production cost of domestic products will increase and the price will also increase.

    It will also cause disaster in the export industry. The country’s economy will move towards dire consequences, he said.

    The JP chairman also stated that this will result in higher transportation costs. Daily necessities will cost significantly more money. Additionally, both the price and the cost of producing domestic goods will rise. Disaster will also befall the export industry. The economy of the nation will see negative effects.

    Bangladeshis queue at a gas station in Dhaka after the government increased fuel oil price. PHOTO: AFP
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