The government raised the retail price of bottled soybean oil by Tk12 per litre.
The new price will be effective from Thursday.
Bangladesh Vegetable Oil Refiners and Vanaspati Manufacturers Association issued a press release in this regard on Thursday morning.
The association wanted to increase the price of bottled soybean oil by Tk15 per litre citing additional VAT on product redemption and fixing the price.
The move comes at a time when global oil prices dropped to a twelve-month low.
Earlier, the price per litre of bottled soybean oil was Tk187.
On November 17 last year, the association increased the price of bottled soybean oil. Before that, the price of bottled soybean oil was Tk178 per litre.
The government in March last year lowered the value added tax (VAT) on edible oil at the import and refining stages.
The facility expired on April 30.
Global soybean oil prices declined to a one-year low in April to $1,130-1,150 a tonne.