Road Transport and Highways Secretary ABM Amin Ullah Nuri has said the government is set to reduce public transport fares after the price of fuel oil was reduced by Tk 5.0 per litre.

The government will hold a meeting to fix the new rates on Wednesday, Nuri said on Tuesday, reports bdnews24.com.

“The fares will be reduced, but I can’t say how much,” he said.

The government reduced the prices of fuel oil by Tk 5 a litre on Monday, 23 days after raising the prices by as much as 51.68 per cent. The price of diesel and kerosene now stands at Tk 109, octane Tk 130 and petrol Tk 125 per litre.

On Aug 6, the government increased diesel and kerosene prices from Tk 80 to Tk 114 per litre, petrol from Tk 86 to Tk 130 each litre and octane from Tk 89 to Tk 135 per litre.

These unprecedented price spikes shot long-route bus fares up by Tk 0.4 per km and Tk 0.35 each km inside the city.