Perceived Consequences of Unpredictable Fuel Hike in Bangladesh

Abstract

The unpredictability of fuel hikes has become a significant concern for the people of Bangladesh. This study revealed the perceived consequences of unexpected fuel hikes among the people of Bangladesh. A mixed-method approach, such as interviews and focus group discussions, was used to collect data. The data were collected from different places in Dhaka city in Bangladesh. The findings of the study reveal that an unpredictable fuel hike has significant consequences for the people of Bangladesh. These consequences include an increase in transportation costs, a rise in the prices of goods and services, and a rise in the cost of living. The increase in fuel prices has triggered inflation, which has adverse impacts on the economy. Other potential consequences include a reduction in industrial output, a decrease in foreign investment, and an increase in unemployment rates. The majority of respondents were highly concerned about the unpredictable increase in fuel prices, and they expected the government to take necessary steps to stabilize fuel prices. The study suggests that a coordinated effort from the government, policymakers, and stakeholders is necessary to address this issue. This will alleviate the negative consequences of unpredictable fuel hikes in Bangladesh.

Keywords: Fuel Hike, Inflation, Living Standard, Economic Condition, Social Instability

DOI: 10.7176/JESD/14-12-05

Publication date:June 30^th 2023