Bangladesh spikes fuel prices 50%
August 7, 2022 (LBO) – Bangladesh has sharply raised fuel prices in response to pressures caused by the increase in global oil prices.
The price of petrol was raised by over 51%, while prices of diesel and kerosene were raised 42.
5%.
Prices of petrol in Bangladesh are now at the price equivalent of LKR495/liter, while prices of diesel and kerosene are at the price equivalent of LKR435/liter.
Prices of petrol in Sri Lanka are still lower at LKR450/liter while diesel in Sri Lanka is slightly higher than Bangladesh at LKR440/liter.
Bangladesh has rapidly responded to its economic crisis having approached the IMF while still having close to US$40bn in foreign reserves. Sri Lanka, on the other hand, approached the IMF very late when its reserves were more or less wiped out.