LPG gets cheaper by Tk 50 per 12kg container

The price of private operators' liquefied petroleum gas (LPG) has declined by Tk 50 to 1178 from Tk 1,228 per 12kg container with effect from 6:00pm on Monday at the retail level, including the value added tax (VAT), reports UNB.

Bangladesh Energy Regulatory Commission (BERC) announced the new price at a press briefing on Monday. As per the announcement, the prices for other quantities of the LPG will also go down in line with the new price at the same ratio.

The price of auto gas for motor vehicles has also been cut down to Tk 54.95 from the present price of Tk 57.24 per litre. Making the announcement, BERC chairman Abdul Jalil said the price of retail LPG has witnessed the fall as the bulk LPG of Saudi contract price (CP) has declined globally.

"Saudi CP price has declined to US dollar 420 from the previous price of US dollar 765.75 per metric ton. Bangladesh's private LPG operators buy the bulk LPG on the basis of the Saudi CP," he told newsmen at the virtual briefing.

The other members of the BERC were present on the occasion. 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.

According to industry insiders, the 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 market it locally.

Responding to a question, the BERC chairman said the Commission will take initiatives to install an electronic dashboard at retail LPG outlets to ensure the sale of the products at the proper rate to be fixed by the BERC.

The BERC for the first time fixed the retail-level LPG price on 12 April after holding a public hearing to comply with a High Court order.