The drama of fuel pricing

We are appalled at the way the authorities are handling the process of fuel price reduction. They announced some time ago that the prices of fossil fuel would be reduced. But they could not yet decide at 'how much'. According to the state minister of power and energy, for octane the range will be from Tk.15 to 10 and that too by 24th April. The whole situation shows their insincerity and inefficiency in handing a simple situation. Why 'a range'? Why can't they come up with a solid figure?

The price of octane was Tk. 99 when oil was selling at USD 140 a barrel. Now, it has come down to USD 35 which is one-fourth of the peak price. So, logically, the price of octane should have been priced at Tk. 25 or Tk. 40 maximum. In most countries fuel prices are adjusted according to the prices of crude oil. The government should act fast to end the fuel price fiasco. 

Dr. SN Mamoon
Dhaka