DHAKA, Aug 29, 2022 (BSS) - The price of fuel will be adjusted soon, said State Minister for Power, Energy and Mineral Resources Nasrul Hamid.

“We’re planning to adjust fuel price in line with the global market trend tomorrow or day after tomorrow,” Nasrul hoped.

Talking to reporters at his ministry conference room the state minister said that concerned agencies have been assessing fuel price for adjustment.

“Decision will come tomorrow or day after tomorrow in this regard,” he added.

About fuel price, Nasrul said that the gasoline market has now gone above $150 (per barrel), which was $130 earlier. “How much can we adjust the price under this situation, because a handsome amount of the subsidy will be needed again,” he said.

Meanwhile, the National Board of Revenue (NBR) issued a notification on Sunday exempting advance tax and cutting import duty on diesel from 10 percent to 5 percent, he said.

The State Minister said, “We have given some benefits regarding tax on fuel import. On the basis of that benefit, we may be able to adjust the price of fuel. Assessment on the price is still under scrutiny.”

“We hope that there may be a change regarding fuel price, as the government has given duty exemption,” he added.