LPG price slashed by Tk 35 per 12-kg cylinder

The Bangladesh Energy Regulatory Commission (BERC) on Sunday cut the price of a 12-kg LPG cylinder by Tk 35 to 1,200. 

In September, the BERC hiked the price by Tk 16 to Tk 1,235 a cylinder to adjust the prices in line with the international markets. It was selling at Tk 1,219 in August.

BERC Chairman Abdul Jalil announced the new price at a virtual press briefing on Sunday.

The prices of LPG for other sizes of cylinders from 5.5 kg to 45 kg will come down rationally, he said. 

As per the announcement, the price of auto gas (LPG used for motor vehicles) was reduced to 55.92 per litre from the previous price of Tk 57.55 per litre, down by Tk 1.63 per litre.

The new price came into effect from 6pm on Sunday.

Jalil informed that the US dollar rate was considered at Tk 106.64 in re-fixing the price of the LPG as private operators import it from the Middle East through foreign currency.

He said though the LPG price has substantially come down in the global market, consumers are not getting full advantage of the downward trend due to the high dollar price in the local market.

Last month, the dollar exchange rate was considered Tk 104.02.

The price of LPG, marketed by state-owned LP gas company, will remain as usual as it is locally produced with a market share of less than 5%.

The LPG price went up to the highest Tk 1,439 (a 12kg cylinder) in the local market, following the start of the Russia-Ukraine war in February this year.

The LPG price was Tk 1,225 a 12kg cylinder in January this year and it witnessed continuous hikes in February, March and April.