ASIFUR RAHMAN and MOHAMMAD SUMAN

Bangladesh Petroleum Corporation (BPC) may slip back into losses if fuel prices are not adjusted in the upcoming cycle, as global oil prices surge.

Officials and sector insiders warn that the state-run fuel importer is under mounting financial pressure due to the fallout of the US-Israel war on Iran.

Audit data show that over the last decade, BPC incurred losses in just one fiscal year -- Tk 2,705 crore in FY22 -- when domestic prices were kept below import costs as the Russia-Ukraine war drove up global oil prices.

In March 2024, the government introduced an automated fuel pricing mechanism to align domestic rates with global markets. Adjustments are typically made in the last week of each month and take effect from the first day of the following month.

The last adjustment on February 28 -- coinciding with the US-Israel attack on Iran -- left prices unchanged.

Since then, global fuel prices have risen sharply, raising questions about whether the government will follow the formula or absorb the impact through subsidies.

After the losses in FY22, the corporation recorded profits consecutively -- Tk 4,586 crore in FY23, Tk 3,943 crore in FY24, and Tk 4,316 crore in FY25.

The current situation suggests a reversal may be imminent if global price pressures persist.

Anindya Islam Amit, state minister for power, energy and mineral resources, reiterated yesterday that there are no plans to raise fuel prices for now despite multifaceted economic pressures.

Speaking at a programme in Jashore, he explained that higher fuel prices would

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