Bangladesh increased fuel prices by 50 percent; Concerns that inflation will rocket up Bangladesh hikes fuel prices to highest levels since independence

Dhaka: Bangladesh has increased the price of fuel by a large amount. This is the largest increase since independence. Fuel price has increased by 51.7 percent. The price of a liter of octane has been increased to 135 taka ($1.43). Earlier, the price of a liter of octane was 89 taka.

The price of diesel and kerosene has been increased by 42.5 percent. A liter of diesel costs 114 taka. Petrol price increased by 44 taka to 130 taka. The increase in petrol price is 51.1 percent.

Inflation in Bangladesh is expected to reach a record high with the increase in fuel prices. Inflation is currently 7.56 percent. Inflation in Bangladesh is now at a nine-year high.