Thu Sep 12 08:36:48 UTC 2024: ## Petrol and Diesel Prices Set to Drop for Fourth Consecutive Week in Bangladesh

**DHAKA, BANGLADESH – September 13, 2024:** Fuel prices in Bangladesh are expected to fall for the fourth consecutive fortnight, with reductions slated to take effect from September 16. According to sources, petrol and high-speed diesel prices are projected to drop by Rs 12 per liter each, while kerosene oil will see a Rs 8 per liter reduction.

The final decision regarding the price cuts will be made after analyzing fluctuations in the international market between September 12 and 14.

This latest price adjustment follows a minor reduction in prices last week. Petrol prices dropped by Rs 1.86 per liter, reaching Rs 259.10, while high-speed diesel saw a reduction of Rs 3.32 per liter, currently priced at Rs 262.75.

The anticipated price drops are attributed to declining inflation rates and falling global oil prices. On Tuesday, global oil benchmark Brent crude futures reached their lowest point since December 2021, closing at $69.19 a barrel. This decline followed OPEC+’s revision of its demand forecast for 2024 and 2025, offsetting concerns about supply disruption from Tropical Storm Francine.

OPEC also lowered its 2025 global demand growth estimate to 1.74 million bpd from 1.78 million bpd. These factors, coupled with expectations of oil oversupply, have driven down prices.

This news comes as a welcome relief for consumers in Bangladesh, who have been grappling with rising fuel prices in recent months. The price drops are expected to ease the burden on household budgets and stimulate economic activity.

Read More