Bangladesh raises fuel prices to cut subsidies

Bangladesh has joined its Asian neighbours in raising domestically controlled fuel prices. It raised prices on Tuesday to better reflect the rising cost of international oil but promised to provide subsidies to the hardest hit to help them cope with the higher prices. People in Dhaka voiced their anger, saying they just simply could not afford it. The state run Bangladesh Petroleum Corporation (BPC) has incurred huge losses due to the abnormal price hike of oil in international markets.