Online Report : The government has reduced the prices of diesel, kerosene, petrol, and octane by 1 taka per liter for the month of May after keeping fuel prices unchanged for two consecutive months.

The Ministry of Power, Energy and Mineral Resources issued a notification in this regard on Wednesday evening.

According to the new prices, the price of diesel and kerosene has been reduced from Tk 105 to Tk 104 per liter. The price of octane and petrol has also been reduced by Tk 1, setting the new prices at Tk 125 for octane and Tk 121 for petrol.

Previously, on February 1, the price of diesel and kerosene was increased by Tk 1 from Tk 104 to Tk105 per liter.

The government had also raised the price of octane to Tk126 and petrol to Tk122 per liter. For the next two months, March and April, fuel prices remained unchanged.

Since March of last year, government has been implementing an automatic pricing system for fuel based on global market rates. Under this system, new prices are announced each month.