Dip in international oil price | The Daily Star
Skip to main content
T
Wednesday, September 27, 2023
The Daily Star
E-paper Today's News বাংলা
  • Home
  • News
    • Bangladesh
      • Investigative Stories
    • Investigative Stories
    • Asia
    • World
  • Opinion
  • Health
  • Sports
  • Business
  • Entertainment
  • Culture
  • Life & Living
  • Youth
  • Tech & Startup
  • Multimedia
  • Feature
    • Lifestyle
    • Rising Star
    • Showbiz
    • My Dhaka
    • Satireday
    • Campus
    • Toggle
    • Star Literature
    • In Focus
    • Star Youth
    • Shift
    • Daily Star Books
    • Roundtables
    • Star Holiday
    • weekend read
  • More
    • Environment
    • NRB
    • Supplements
    • Law & Our Rights
  • E-paper
  • বাংলা
Search Epaper T
  • Today's News
  • Home
  • News
    • Bangladesh
    • Investigative Stories
    • Asia
    • World
  • Opinion
  • Health
  • Sports
  • Business
  • Entertainment
  • Culture
  • Life & Living
  • Youth
  • Tech & Startup
  • Multimedia
  • Feature
    • Lifestyle
    • Rising Star
    • Showbiz
    • My Dhaka
    • Satireday
    • Campus
    • Toggle
    • Star Literature
    • In Focus
    • Star Youth
    • Shift
    • Daily Star Books
    • Roundtables
    • Star Holiday
    • weekend read
  • More
    • Environment
    • NRB
    • Supplements
    • Law & Our Rights

  • About Us
  • Contact Us
  • Apps
  • Comment Policy
  • RSS
  • Sitemap
  • Advertisement
  • Newsletter
  • Privacy Policy
  • Conference Hall
  • Archives
Editorial
Mon Jan 18, 2016 12:00 AM
Last update on: Mon Jan 18, 2016 12:00 AM

Most Viewed

  • Shakib wants to step down as Bangladesh's WC captain: BCB source

  • Will the Tamim issue alter Bangladesh's World Cup squad?

  • Barind Farmers: At mercy of ‘water lords’

  • Tk 60,000cr contracts awarded in 11 years based on single bids

Editorial
Editorial

Dip in international oil price

Not reducing home price defies logic
Mon Jan 18, 2016 12:00 AM Last update on: Mon Jan 18, 2016 12:00 AM

The logic being offered by the government for not adjusting the oil price in the country with the international price is that the BPC is making up for the huge 'losses' it has run up over the years. For one thing the BPC losses were made up by government subsidy almost as much as the BPC had accumulated since it began operating in 1997, which it has not yet paid back. And in the last two years since early 2014, when the prices started to fall, the BPC has more than made up the 'losses' by keeping to the previous price. So, why the rigid stance on reducing the oil price? 

We want to state that neither the government nor the BPC is a business house nor should they be working with a profit motive. Losses incurred due to fluctuation of prices of an important product can be adjusted but not in the manner that the BPC has done. While it has been prompt in re-fixing prices, upwards, with the rise of oil price in the international market, the benefits of the dip in prices have not been felt by the people in the last two years.

For all latest news, follow The Daily Star's Google News channel.

Low oil price has a positive trickle down effect on the economy. It boosts investment and adds to the GDP apart from making consumer goods cheaper. Instead of recovering losses by making the users pay more than three times the cost price of oil, the taxes can be levied on new investments and products. Profiteering by keeping high oil price at home compared to the cost price makes poor economic sense.

Related topic:
crude oil priceGlobal oil pricesoil priceoil price in international marketOil pricesWorld Oil Priceinternational oil price
Apple Google
Click to comment

Comments

Comments Policy

Related News

Oil prices slip as bearish China data fuels demand concerns

Global oil price slump and Bangladesh

BNP urges govt to lower oil prices

Oil marginally lower as global economic concerns loom

4w ago

Can lower price hurt the economy?

সরকার গুম-খুন-গ্রেপ্তার করতে পারবে, জোয়ার ঠেকাতে পারবে না: মির্জা আব্বাস
|রাজনীতি

সরকার গুম-খুন-গ্রেপ্তার করতে পারবে, জোয়ার ঠেকাতে পারবে না: মির্জা আব্বাস

‘দেশটা আমাদের সবার, আমাদেরই আমাদের দেশকে বাঁচাতে হবে। দেশের গণতন্ত্রকে পুনরুদ্ধার করতে হবে।’

৮ ঘণ্টা আগে
|আইসিসি ক্রিকেট বিশ্বকাপ ২০২৩

বিশ্বকাপের ১০ দলের স্কোয়াড

৯ ঘণ্টা আগে
Please Click on allow
The Daily Star
Journalism without fear or favour
  • About Us
  • Contact Us
  • Apps
  • Comment Policy
  • RSS
  • Sitemap
  • Advertisement
  • Newsletter
  • Privacy Policy
  • Conference Hall
  • Archives
© 2023 thedailystar.net | Powered by: RSI LAB
Copyright: Any unauthorized use or reproduction of The Daily Star content for commercial purposes is strictly prohibited and constitutes copyright infringement liable to legal action.
X