As of now, the price of engine oil in Bangladesh is very high. This is because the demand for this type of oil is high due to the many trucks and buses that are used in the country. In 2022, however, there may be a change in this trend as current trends suggest that engine oil prices might drop. This will likely lead to an increase in the price of engine oil in Bangladesh.
Bangladesh’s engine oil prices are expected to rise in 2022, due to increased demand from the motor vehicle industry and the country’s growing economy. The current price of engine oil in Bangladesh is about BDT 400 per liters
Import Problems:
The ongoing due reserve crisis has caused the government to not allow all LC for import finished engine oils into Bangladesh. This has created a bottleneck in the supply of oil, which is exacerbating the country’s existing economic conditions. So, Finally due to a lack of reserve dollars & Russia Ukraine’s war engine oil imports are facing a lot of problems.
Additives Shortage:
Bangladesh is the world’s worst oil-exporting country and the global base oil crisis is making engine oil prices high in the country. The main reason for this is the high production costs of oil and the low demand from consumers. Total Oil is not also out of this situation, so total engine price is getting higher day by day. But still we are giving competitive prices than Mobil or BP.
Conclusion:
In conclusion,engine oil prices in Bangladesh are expected to rise in the next few years as the global economic slowdown causes more firms to reduce spending on oil and gas. This will lead to a decline in demand for engine oils, which will raise the price of these products. However, consumers can expect to pay more for fuel due to the increase in global energy prices.