Rising fuel prices spark protests in Bangladesh

Thousands of Bangladeshis besieged petrol stations across the country after the government hiked prices by 52%, the biggest hike on record, due to rising oil prices.

Russia’s invasion of Ukraine has seen global energy prices soar, although oil has fallen in recent weeks as recession fears mount.

Dhaka announced on Friday that the price of petrol increased by 51.7% and diesel by 42.5% from midnight. Motorcyclists rushed to gas stations across the country to try and fill up before the price hike took effect. Some stations have suspended sales and sporadic protests have broken out.

Protesters said the increases would disproportionately hit the tens of millions of the country’s poor, who use diesel to power transport and agricultural irrigation pumps. In Sylhet, retailers tried to charge higher prices immediately after the hike was announced, police commissioner Nisharul Arif said.

Motorcyclists rushed to gas stations across the country to try and fill up before the price hike took effect. Some stations have suspended sales and sporadic protests have broken out.

Protesters said the increases would disproportionately hit the tens of millions of the country’s poor, who use diesel to power transport and agricultural irrigation pumps.

In the town of Sylhet, retailers tried to impose higher prices immediately after the hike was announced, police commissioner Md. Nisharul Arif said. “People gathered and protested in front of all the gas pumps.”

Similar protests took place in other cities, following protests held earlier in the week. Energy Minister Nasru Hamid told reporters the decision was driven by global markets.

“Some adjustments need to be made given the global situation. If the situation normalizes, fuel prices will be revised accordingly,” he said.

Bangladesh has been hit by rising energy prices following the war in Ukraine, sparking a struggle to source fuel for power plants.—AFP