Petrol protest in Bangladesh as prices increase by over fifty percent

Thousands of drivers have begun a protest in Bangladesh at the outrageous increase in petrol prices, with gas costing more than 50% than it did before Russia invaded Ukraine. 

The increased petrol prices are just one part of the general energy crisis which has seen oil and electricity prices soar. Already in Bangladesh, Russia were providing 90% of the funding for a multi billion dollar nuclear power plant project in Pabna, showing the country’s heavy reliance on Russian resources. The government of Bangladesh was set to fund the remaining 10%. 

Throughout the rest of the world, countries have been making an effort to rely less on Russia in order to combat rising energy prices. Russia was a large diesel exporter for many countries such as France, Germany, Poland and the UK. 

In Dhaka, Bangladesh, the price of petrol increased by 51.7% and diesel increased by 42.5% from midnight on Friday 6th August, as reported by straitstimes.com

Thousands of Bangladeshi drivers hurried to petrol stations to try and fill their tanks before the price increases were set in place and protestors warned that poor people who use diesel for farming machinery and transport would be predominantly affected. 

Over the weekend fuel pumps throughout Bangladesh were crowded by protestors opposing the increased petrol prices which are a result of the worldwide energy crisis. 

However, energy Minister Nasru Hamid said that the increased prices were a result of global markets and that “some adjustments have to be made in view of the global situation”. He added that fuel prices would be only be reconsidered “if the situation normalises”. 

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