The Bangladesh Energy Regulatory Commission (BERC) has raised the retail price of LPG (liquefied petroleum gas) by Tk 62 per 12kg cylinder.
Under the new price, a 12kg LPG cylinder will now cost Tk 1,240 up from the previous Tk 1,178, including the value added tax (VAT).
The commission announced the new prices at a virtual press conference on Thursday and said it will come into effect from 6:00pm of the day.
BERC Chairman Md Abdul Jalil along with other high officials was present at the press conference.
According to the new decision, the price of per kg centrally reticulated LPG has been hiked from Tk 94.94 to Tk 100.10.
At the same time, the price of auto gas used in motor vehicles has also been increased from Tk 54.94 to Tk 57.81 per litre.
The BERC chairman said the price of the state-owned LP Gas Company’s LPG will remain unchanged as it has no relation with the global market price.
Earlier, for the month of January, the price of per kg LPG was reduced from Tk 102.32 to Tk 98.17, including VAT, at the private level. At that time the price of a 12kg cylinder was reduced by Tk 50.
LPG industry insiders said the Saudi Contract Price (Saudi CP) is normally announced at the end of every month to make it effective for the next month and it takes 7-10 days for a shipment of the fuel to arrive in the country.
Most Bangladeshi private companies import their bulk LPG from the Middle East on the basis of Saudi CP and thus market it locally.
The BERC for the first time fixed the retail-level LPG price on April 12 after holding a public hearing to comply with a High Court order.
