DHAKA, April 19 (Xinhua) -- The Bangladeshi government has hiked the fuel prices with effect from Sunday.

According to a price notification from the country's Ministry of Power, Energy and Mineral Resources on Saturday night, a liter of octane now costs 140 taka (about 1.14 U.S. dollars), 20 taka higher than the previous rate.

The prices of diesel and kerosene have been increased from 100 taka and 112 taka per liter to 115 taka and 130 taka per liter, respectively.

Each liter of petrol now costs 135 taka, a rise of 19 taka, said the notification.

Bangladesh has been forced to increase fuel oil prices as a result of rising import fuel costs linked to the ongoing Middle East conflict, the country's Minister for Power, Energy and Mineral Resources Iqbal Hassan Mahmood told journalists on Sunday.

He said that since the outbreak of the conflict, Bangladesh has been importing fuel and building up stocks at higher costs, and that the current price adjustment still falls short of those import expenses.

"We were compelled to take this step," the minister said, adding that fuel purchases must be made in foreign currency. "We've tried to ensure that prices remain at a tolerable level." ■