The New Nation - Internet Edition

Staff Reporter

The government is mulling to decrease fuel prices as oil prices in the global market has fallen down substantially, Finance and Planning Adviser Mirza AB Azizul Islam said yesterday.

"As fuel prices have dropped in the global market, we will consider to readjust the prices in the domestic market," the Adviser told reporters on his return home from London at Zia International Airport.

We will hold a meeting to discuss it shortly," he added.

The global price of oil had risen to $140 per barrel, when the government made upward adjustment of the prices. The price has now come down to $100.

The Adviser said, "The Government had no alternative to it at that time as it was burdened with massive subsidies due to soaring oil prices."

Now the situation has changed with the oil prices falling once again, he added.

The government hiked fuel prices on June 30. It raised the prices of diesel and kerosene to Tk 55 from Tk 40, the prices of petrol to Tk 87 from Tk 22, and octane Tk 90 from Tk 23.

On his return from climate talks in London, Mirza Aziz said the UK-Bangladesh climate change conference was a success.

"The British government has formed a fund of 75 million pounds to help Bangladesh adapt to climate change."

"The Danish government has also pledged assistance."

Other donor agencies, including the World Bank, have also promised climate-change adaptation funds, the Adviser added.

The chief adviser's special assistant in charge of environment Devashish Roy and Economic Relations Division Secretary Aminul Islam Bhuiyan returned from London Saturday with the finance adviser.