Global crude oil prices fell on Monday, coinciding with the Bangladeshi government's decision to increase local fuel prices by Tk 20 per liter.
Effective Monday, (September 21), the government raised the prices of petrol, diesel, kerosene, and octane by Tk 20 per liter across the country.
International benchmark Brent crude for November delivery declined by 1.66 per cent to $102.15 per barrel. Meanwhile, US West Texas Intermediate (WTI) crude for October delivery fell by 1.83 per cent to $98.46 per barrel.
At current exchange rates of approximately Tk 123 per US dollar, crude oil costs roughly Tk 79 per liter for Brent crude and Tk 76 per liter for WTI on the international market. However, retail fuel prices at local filling stations include additional costs for refining, transport, duties, and taxes.
Market analysts attributed the global price decline to expectations of normalized supply from Saudi Arabia despite recent security tensions in the Middle East.
Reports from JP Morgan indicated that Middle East oil exports remained relatively steady, averaging 17.1 million barrels per day over the past 10 days.
Investors remain cautious as geopolitical developments and potential diplomatic progress continue to influence global energy market stability.
FP/A
