The Bangladesh Energy Regulatory Commission (BERC) has adjusted the price of furnace oil at the consumer level, setting it at Tk 94.69 per liter.
The revised rate will come into effect from midnight tonight and remain in force until further notice, according to a notification signed by BERC Secretary Md. Nazrul Islam Sarkar today.
The adjustment was made under sections 22(b) and 34 of the Bangladesh Energy Regulatory Commission Act, 2003.
BERC said the Bangladesh Petroleum Corporation (BPC) had submitted a proposal in February for price revision. Later, Meghna Petroleum Limited (MPL), Standard Asiatic Oil Company Limited (SAOCL), Jamuna Oil Company Limited (JOCL) and Padma Oil Company Limited (POCL) proposed revisions in marketing and transportation charges.
A committee formed on March 15 reviewed the proposals and recommended an adjustment in April, taking into account the average published Platts rate of refined furnace oil in March and changes in the US dollar exchange rate.
The commission finalized the rate at its special meetings held on April 5 and April 12.
BPC's furnace oil is supplied to the Bangladesh Power Development Board (BPDB), government and private power plants, industrial units and other consumers.
Previously, the consumer-level price of furnace oil was Tk 70.10 per liter.
It may be noted that the authority to determine prices of furnace oil and Jet A-1 fuel has been vested in BERC through a government notification following the interim government's assumption of office.
