The recent increase in fuel prices is having a widespread impact across the country, pushing up production costs, transport fares and the prices of essential goods, affecting both consumers and businesses. Economists warn that the effects will be felt across all sectors-from agriculture and industry to household expenses-as higher fuel costs trigger a chain reaction throughout the economy.
According to Bangladesh Bureau of Statistics (BBS) data, fuel price increases are directly linked to rising inflation. Economists said that the increase in fuel prices increases costs at every level of the production and supply chain, the impact of which will ultimately reach the consumer level. Its impact in rural areas is also not less. The increase in the price of diesel used in irrigation and agriculture has increased the cost of production. As a result, farmers' profits are decreasing, which may also affect the food market in the future. Dr. Mustafizur Rahman, Honorary Fellow of the Center for Policy Dialogue (CPD), a private research organization, told, "As long as the fuel crisis continues, we will be in a difficult situation. The government had no choice but to increase fuel prices. The impact of increasing oil prices will now be felt everywhere." He further said, "The increase in fuel prices does not mean pressure on just one sector, it creates a chain reaction in the entire economy. Costs increase at all levels of production, transportation, and supply; the impact of which ultimately falls on the consumer."
Meanwhile, when visiting various markets in the capital, it was seen that traders are selling goods at higher prices by increasing the cost of transporting goods. This has a greater impact on vegetables, fish and daily necessities. Retailers said that truck and pickup fares have increased due to the increase in fuel prices. As a result, it is not possible to sell products at low prices.
On Friday, visiting the kichen market in Mirpur-11 and Mirpur-6, it was seen that Potol, Okra are being sold at 60-80, beans and Shajina at 80-120, Green chili is available at 80-100, tomato at 50, green papaya at 60-80, sweet pumpkin at 40-50 and brinjal at 70-80 taka. Potatoes are being sold at 20-25, onions at 40-50 taka. Medium-sized gourd is being sold at 80-100 taka per piece. Broiler chicken is 170-180 per kg, golden chicken at 350-360 taka.
Fuel price hike affecting on highways: In coordination with the price of oil, the Ministry of Road, Rail and Shipping issued a notification on Thursday increasing the fare of inter-district buses from 2 taka 12 paisa to 2 taka 23 paisa per kilometer. But a visit to the Gabtoli bus terminal showed a different picture. Due to the increase in fuel prices, passengers are being charged 150-200 taka more per ticket.
A gang posing as employees of various transport companies is taking this extra money. This is increasing the travel expenses of passengers.
A passenger named Md. Altaf Hossain at the Gabtoli bus terminal, said, "Earlier it cost 500 taka to go to my village house in Jhenaidah, now it costs 750 taka. I bought an Eagle Paribahan ticket for 650 taka after bargaining."
Secretary General of the Passenger Welfare Association Mozammel Haque Chowdhury told "The regional transport association prepares the bus fare list. The regional transport association is under the transport owner association. There is no monitoring team to see if there is tampering with the kilometer or fare rate. However, these monitoring teams are also under the owners' association. If we formed a team to prepare a list, quality of service and monitor it, we could work together to solve the problem."
He further said, "Even if the bus fare is increased, the meaning of the service does not change. Without the representatives of the passengers, the government only discusses with the owners' association. Old, rickety buses are painted and shown as new. Although these buses have a service life of 10 years, they remain on the road for 20-25 years. The government does not even give us a chance to say anything about these things."
"Local buses plying within the capital are also seen charging extra fares. Passengers have to pay 30 taka to go to Gabtoli from Mirpur-10 in the 'Rajdhani' bus. Passengers are being charged 10 taka more. Again, the fare from Mirpur-10 to Kuril intersection is 20 taka, but 30 taka is being charged," he added.
