Massive protests erupt in Bangladesh over fuel price hike

Sheikh Hasina government increased petrol prices by 51.2 per cent – highest since country’s independence in 1971

An activist displays a banner and shout slogans during a torch rally to protest against rising fuel prices in Dhaka (AFP via Getty)

Thousands of distressed Bangladeshis took to the streets in protest against the government's decision to hike fuel prices by nearly 52 per cent amid dwindling foreign reserves.

The Sheikh Hasina government increased petrol prices by 51.2 per cent to $1.38 a litre, 95-octane gasoline by 51.7 per cent to $1.44 and diesel and kerosene by 42.5 per cent. The hike has been touted to be the highest since the country’s independence in 1971.

While the South Asian country’s $416bn economy has been one of the fastest-growing in the world for years, the hike in fuel prices is likely to put more pressure on its inflation, which hit 7.48 per cent in July.