The Bangladesh Energy Regulatory Commission (BERC) today (Thursday) revises down the price of liquefied petroleum gas (LPG) for retail sales in May.
The price cut came as part of the monthly exercise to adjust the price in coordination with the Saudi Contract Price (CP).
As per re-fixed price, the price of LPG from the private companies has been fixed at Tk 75.49 per kg, while the price of a cylinder with 12-kilogram capacity has been re-fixed at Tk 906 including VAT, which was Tk 975 earlier.
However, the price of a 12 kg cylinder will remain same at Tk 591 at the government level, as it has no relation with Saudi CP.
The value of per kg of LPG was considered to be Tk 75.49 including VAT and such price will be applicable for re-fixing the price of other weighed containers.
The Auto gas price was also re-fixed at Tk 44.70 per liter against the current price of Tk 47 under the price adjustment procedure.
“This price will be applicable from the month of May until further adjustment in the Saudi CP,” said Md Abdul Jalil of BERC while announcing the new price through virtual briefing on Thursday.
“The private companies’ LPG price was re-fixed on the basis of Saudi CP,’ he said.
Normally Saudi biggest oil company Armaco announces its CP for bulk LPG at the concluding state of every month for next month’s transactions.
Most of Bangladeshi private companies import their bulk LPG from the Middle-East on the basis of Saudi CP and market it in the country.
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.
About 20 private companies have been operating in the market with more than 95 per cent market share by annually importing 1.2 million metric tonnes of bulk LPG from mainly Middle-East while the state-owned LP Gas Company is locally producing 25,000 MTs of LPG from locally produced condensates at different gas fields.