The New Nation - Internet Edition

UNB, Dhaka

The government will again reduce the petroleum prices if there be a continuous downturn on the international market that made a tailspin following the recent financial meltdown.

Chief Adviser's Special Assistant for Power and Energy Ministry Dr. M Tamim yesterday said this after the inauguration of country's first international exhibition of CNG filling equipment at the Bangladesh-China Friendship Conference Centre in the city.

He said the government is considering the matter as part of its policy to review the oil prices every three months.

As per the policy, if it is found that the prices on the international market go up or down, the government will follow the trends in readjusting the petroleum prices locally.

A private event-management company -Global Event Management Service-organised the CNG maiden exhibition in the country in the wake of growing popularity of the use of CNG (compressed natural gas) in motor vehicles as a cheaper substitute for liquid petroleum fuels.

Earlier on October 26, the government had reduced the price of petroleum, on average, by 12 percent within four months of the price enhancement by 36 percent.