Bangladesh on its way to Sri Lanka! Petrol 51%, Diesel 42% more expensive, people on the streets

This huge increase in price has put people in a quandary. People are in wonder what happened after all. People are starting to fear Sri Lanka. In many places, protests have started, against which the police have to take action.

Bangladesh on its way to Sri Lanka!  Petrol 51%, Diesel 42% more expensive, people on the streets

You must have seen, heard many news of increase in the rate of petrol and diesel till now.  Even India must be facing the problem of this increase.  But did you hear the Bangladesh news?  No, then know that this country has written a new history leaving everyone behind.  This history is of maximum increase in the price of petrol.  Bangladesh has increased the petrol rate by 50 percent in one stroke, which is the highest in history.  According to a report, this is the biggest increase in one go after the independence of this country in 1971.  Social media agency ANI has given its report quoting local media.

This huge increase in the price of petrol has put people in a tizzy.  People are astonished as to what happened.  People are starting to fear Sri Lanka.  In many places, protests have started, against which the police have to take action.  A report in the Dhaka Tribune states that as the government hiked the price of petrol, long lines of people were seen outside petrol pumps.  There are many such videos on social media in which it can be seen that people are waiting in long lines at petrol pumps for their turn so that they can fill the tank of the vehicle in a hurry.

Where did the price reach from?

Meanwhile, there is also a news that many petrol pumps in many areas around Dhaka such as Mohammadpur, Agargaon, Malibagh and adjoining areas stopped their work.  These petrol pumps started their work later when the rates were increased.  The Bangladesh of Power, Energy and Mineral Resources has said in a notification that the octane price will now be Taka 135, which is the price after the increase of 51.7% already.  Earlier the price of one liter of octane was 89 Taka.  Justifying the price hike, Bangladesh Petroleum Corporation (BPC) has said that between February and July this year, a lot of losses have been seen on oils, after which the price hike was announced.

Why so much inflation

The Russo-Ukraine war and the Kovid-19 pandemic have played a big role in raising oil prices.  Due to both these developments, a big increase is being seen in the price of oil.  In Bangladesh, the price of petrol has increased by 51% and in diesel by 42%.  Due to Russia-Ukraine, the demand-supply equation worsened and due to the Kovid epidemic, OPEC countries reduced the supply of oils.  Due to this, the effect is being seen on the supply all over the world.  Due to this there is a huge increase in the price.  After this inflation of Bangladesh, people have taken to the streets.  Demonstrations are being seen in different parts.

People on the streets

The people of Bangladesh have taken to the streets against inflation.  People are raising slogans against the government with posters and banners.  There are also reports of violent demonstrations from some places.  People are afraid that due to inflation, the condition of Bangladesh may be like Sri Lanka.  There is a similar situation in Sri Lanka where petrol and diesel are now out of reach of the people.  Petrol is being sold only for essential services.  Sri Lanka today stands on the verge of ruin.  After the inflation of food and drink in Bangladesh, the rates of petrol and diesel have also increased rapidly.  This has angered the people and they are continuously protesting against the government.