LPG cylinder price rises by Tk 102

Bangladesh Energy Regulatory Commission (BERC) has increased the retail price of LPG (or liquefied petroleum gas) cylinder weighing 12kg by Tk 102 to Tk 993 due to rise in international market prices.

The price will come into effect in the private sector on 1 August.

Since production cost remains unchanged at the state-owned companies, price of its LPG cylinder will not increase. Currently, price of a 12.5 kg LGP cylinder from the state-owned companies stands at Tk 591.

Besides, price of LPG used in vehicle has increased from Tk 44 to Tk 48.71 a litre.

BERC chairman Abdul Jalil announced the new price at an online press conference on Thursday.

The regulatory body first fixed the LPG price in the country on 12 April last year. Since then, regulatory body has been coordinating the local price once a month in line with the international price.

Sources said Bangladesh import two main ingredients of LPG -- propane and butane, from different countries while the world's largest oil company, Saudi Aramco, releases the price of these two ingredients each month and that is known as cargo price (CP).

The BERC coordinates the local LPG price based on the Saudi CP.

Last December, LPG supplying companies proposed that BERC raise the price. The BERC technical committee then evaluated the proposal and held a public hearing on the LGP price on 14 January this year.