Dhaka: The government is likely to cut oil price further in January, 2017 to rationalize the petroleum products pricing in line with the international market value, Finance Minister AMA Muhith said on Wednesday.

‘The rate of reduction (however) will not be much as the oil price in international market is fluctuating,’ he told journalists at his office at the secretariat in Dhaka.

Muhith said an announcement in this regard would come in consultation with Prime Minister Sheikh Hasina soon.

The government slashed the prices of different gasoline products by Taka 3 to 10 per litre on an average in April this year.

The prices of octane and petrol were cut by Tk 10 per litre while diesel and kerosene by Tk 3 per litre.

‘We have adjusted the prices slightly during this calendar year and that is good enough,’ the finance minister said.

Responding to a question on the state of economy, the minister said 2016 is a good year for Bangladesh economy as business community.

‘The economy is performing well this year . . . the next year will also be good for economy,’ Muhith said.