Bangladesh, April 20 -- Power, Energy and Mineral Resources Minister Iqbal Hassan Mahmood has said the government was compelled to increase fuel prices due to soaring global rates and mounting pressure on fuel imports.

Speaking to reporters at the Secretariat, he said the country had little choice as fuel imports require substantial foreign currency, making the adjustment necessary to maintain overall economic stability.

He added that even after the latest hike, domestic fuel prices have been kept below actual import costs.

Responding to concerns over the impact on ordinary consumers, the minister said many countries, including the United States, have also raised fuel prices in response to global market fluctuations.

"Following the wa...