Fuel price drops again

Fuel price drops again

The fuel price should have been slashed to the level as it was two years back as the international crude oil price is less than it was two years back. The government is putting undue hardship on the poor people.
F Islam
Dhaka

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The distance by sea from a given oil-exporting Middle Eastern port to the nearest port in the USA is double (if not more) when compared with that of Chittagong.
In October/November, in New York (USA, mostly dependent on Middle Eastern supplies), the fuel price from dispensing outlet came down to as low as almost $2 per gallon (4.54 Ltr) when Middle East crude oil came down to $50 a barrel.
Around that time, our administration had reduced the price, for example, of octane from Tk.90 to Tk.80 per Ltr equivalent to approx US$1.14 per Ltr which, in other words, means US$5.17 per gallon!
Crude oil price in the international market has been on $43 a barrel bracket for sometime which has now further come down to $34 a barrel. Under the present circumstances, the reduction of the price by only Tk.2/3 per Ltr has totally bamboozled me! Could it be that the present administration wishes to keep on thriving on windfall gain at the cost of the general public?
Maybe, I have gone horribly wrong in my calculation! If so, can a kind hearted reader educate me, please?
Ashfaque Chowdhry
Via e-mail