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Fuel price adjustment within two days: State Minister Nasrul Hamid

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Update : Monday, August 29, 2022

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Minister of State for Power, Energy and Mineral Resources Nasrul Hamid said that we have been given some benefits regarding the tax on fuel oil import. Fuel oil prices will be adjusted in the next couple of days.

The state minister said this while talking to reporters at the secretariat on Monday (August 29).

The National Board of Revenue has issued a notification on Sunday reducing advance tax exemption and import duty on diesel from 10 percent to 5 percent.

The State Minister of Energy said, “We may be thinking that we may be able to adjust the price of oil.” That account is still being verified. Hopefully there will be a change here.

He said, “The oil market has now gone above $150 per barrel, which was $130 earlier. How much can we adjust the prices in this situation, because here a large part of the subsidy will be added again. When diesel was Rs 114, there was a subsidy of over Rs 8 on diesel, now maybe that space will increase.’

The state minister said, ‘I hope to take a measure of how far we can go between tomorrow and the day after tomorrow? I never say more or less. I asked to coordinate.

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