BPC oil sales up by 50% before price hike

The oil sales of the Bangladesh Petroleum Corporation (BPC) witnessed up to 50% spike, just before the newly hiked prices came into effect. 

On Thursday, the sale of furnace oil increased over 50% while the sale of kerosene rose 40% and diesel 14%.

A day before on Wednesday, BPC subsidiaries Padma, Meghna, Jamuna and Standard Asiatic Oil Company Ltd sold as much as 500 tons of kerosene, 16,000 tons of diesel and 2,400 tons of furnace oil. 

According to BPC data, the sales were 350 tons, 12,000 tons and 1,600 tons respectively on Tuesday. 

Back on November 1, 320 tons of kerosene, 14,500 tons of diesel and 1,670 tons of furnace oil were sold.

This only means that filling stations, dealers and electricity-producing companies started storing fuel oils in advance as they somehow got to know that the price will rise, industry insiders believe. 

Meanwhile, seeking anonymity, a top BPC official told the media that it might have happened due to two reasons.

Either the news of the price hike got leaked earlier or some BPC marketing officials manipulated the data by showing increased sales of the three fuel oils at lower prices. 

Dhaka Tribune could not reach BPC Chairman ABM Azad as of filing this report.

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