Kamal utters word of hope to lower oil prices when new shipment arrives

As an abrupt oil price hike made people distressed, Finance Minister AHM Mustafa Kamal on Sunday came up with a word of hope, saying, the consumers will accrue benefits of falling fuel oil prices in the international market.

He said “Prices are being cut across the world, prices have started falling everywhere. We also started buying (oil) at lower prices. When the shipment arrives in the country, we will not feel any pressure (to make any upward price adjustments).”

The finance minister faced volleys of questions at a city hotel over the oil price hike.

Kamal said, “I think the country’s consumers can use it at a lower price (at that time).”

When asked if an automated pricing system will be introduced in sync with international prices, he said, “I can’t say that at this moment. But we are setting the price of LPG on automated mode. In the case of fuel oil, it will start slowly.”

When asked about the rationale for such a sudden and highest price hike so far in one go, he said, “What is the condition of the neighbouring countries?”

The price that has been raised here has not been done without logic. As oil prices kept on rising in the international market, “we worked out for the people as to how much price could be increased, how much the people could bear.”