Cooking oil prices raised to Tk 141 per litre amid Ramadan

The maximum retail price of bottled cooking oil has been raised by Tk 2 to Tk 141 per litre.

The new price was determined in a meeting between the Ministry of Commerce and the oil traders on Monday.

The government revised the maximum prices of bottled soybean oil for the last time on Mar 15 when the prices were raised by Tk 4 to Tk 139 per litre.

The latest prices will be effective from Monday.

After the meeting, Mostafa Haider, the president of the Bangladesh Vegetable Oil Refiners and Vanaspati Manufacturers Association, told the prices were raised Tk 3 less than what was projected after taking the month of Ramadan into account.

AHM Shafiquzzaman, additional secretary to the commerce ministry, confirmed the development. He said the oil traders had proposed a hike of Tk 5 per litre citing a rise in prices on the international market.

But they agreed to deduct Tk 3 from the proposed price at the request of the ministry.

It means the traders’ decision to charge Tk 144 from Mar 25, which they chose to do by themselves, will no longer remain effective.