Bangladesh raises fuel prices as Iran war drives up costs

Bangladesh raises fuel prices as Iran war drives up costs

Bangladesh has raised retail fuel prices by 10% to 15%, citing a sharp surge in global crude ​oil prices and tightening supplies caused by the ongoing ‌Middle East conflict, the energy ministry said late on Saturday.

Bangladesh Hikes Fuel Prices By 10-16% as Iran War In West Asia Drives Up Global Oil Costs

Bangladesh, which imports nearly 95% of its energy needs and relies heavily on Middle Eastern supplies, has already faced challenges including panic buying, temporary rationing at fuel stations, and higher spot market prices for LNG and other fuels.

Bangladesh raises fuel prices as Middle east conflict drives up costs

DHAKA: Bangladesh has raised retail fuel prices by 10 per cent to 15 per cent, citing a sharp surge in global crude oil prices and tightening supplies caused by the ongoing Middle East conflict, the energy ministry said late on Saturday (April 18).

Bangladesh raises fuel prices as conflict in West Asia drives up costs

Officials ⁠said the increase was unavoidable ⁠as rising crude prices, supply chain disruptions and higher freight and insurance costs pushed up import expenses in ​recent weeks, particularly after ‌oil prices have jumped during the seven-week-old war on Iran.