The Bangladesh Energy Regulatory Commission (BERC) announced the new price of LPG adjusting it with Saudi Contract Price (CP) as the local LPG operators import the bulk petroleum gas from the Middle East.

"As the price of Saudi CP has gone up internationally, so we have to follow it in fixing the new price," said BERC chairman Abdul Jalil, adding, "If the price comes down, we will act accordingly."

However, the price of LPG of the state-owned LP Gas Company Ltd will remain the same at Tk 591 for 12.5 kg LPG as it sells products from condensates produced in local gas fields and has no relation with Saudi CP.

Some 20 private companies dominate the local LPG market with more than 95 per cent market share through an annual import of 1.2 million metric tons while the LP Gas Company supplies only 25,000 mts.

Based on the Saudi CP, the BERC also refixed the price of auto gas price at a higher rate of Tk 50.56 instead of Tk 48.71 per litre.

BERC Md Abdul Jalil announced the new LPG price through a virtual briefing while other members of the commission were present online.

Usually, Armaco, the largest company of Saudi Arabia, announces its CP for bulk LPG at the concluding state of every month for the next month's transactions.

Most Bangladeshi private companies import their bulk LPG from the Middle East on the basis of Saudi CP and market it locally.

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.

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