DHAKA: Thousands of Bangladeshis besieged fuel stations across the country after the government raised prices by as much as 52 per cent, the largest jump on record, on the back of higher oil prices.
Russia’s invasion of Ukraine has seen global energy prices soar, though oil has fallen back in recent weeks as recession fears mount.
Dhaka announced on Friday that the price of petrol was going up by 51.7pc and diesel by 42.5pc from midnight. Motorcycle riders raced to fuel stations nationwide to try and fill up before the price rise went into effect. Some stations paused sales, and sporadic protests broke out.
Demonstrators said the increases would disproportionately hit the country’s tens of millions of poor people, who use diesel to power transport and farming irrigation pumps. In Sylhet, retailers tried to impose the higher prices immediately after the hike was announced, Police Commissioner Nisharul Arif said.
Published in Dawn, August 7th, 2022