India, Sept. 21 -- The retail price of diesel, petrol, octane and kerosene has been increased by Tk20 per liter and this will come into effect from September 21. The cost of diesel has been hiked by Tk17.4%, petrol Tk14.3%, octane Tk13.8% and kerosene Tk14.8%.

According to the government, it is important to do so because the prices of fuel as well as freight in international markets have been rising since March but for people who were already suffering from inflation, this policy poses an important question for economics as how much of global energy shock can consumers digest?

Laying out the perspective and rationale of the latest fuel price hike, the energy division said, "The ongoing war in the Middle East has caused a significant inc...