Further adjusting with Saudi Contract Price (CP), the Bangladesh Energy Regulatory Commission (BERC) has re-fixed the price of Liquefied Petroleum Gas (LPG) at retail level with effect from May 1.
As per the new prices, the private companies will have to sell 12 kg LPG at Tk 906 instead of the current price of Tk 975 while LP Gas Company Ltd, the state-owned company, will sell 12.5 kg LPG at Tk 591 as it has no relation with Saudi CP.
In re-fixing the price, the value of per kg of LPG was considered to be Tk 75.49 including VAT and such price will be applicable for re-fixing the price of other weighed containers.
The Auto gas price was also re-fixed at Tk 44.70 per litre against the current price of Tk 47 under the price adjustment procedure.
“This price will be applicable for the month of May until further adjustment in the Saudi CP,” said BERC Md Abdul Jalil, while announcing the new price through virtual briefing on Thursday.
“The private companies’ LPG price was re-fixed on the basis of Saudi CP,” he told reporters.
Normally Saudi biggest oil company Armaco announces its CP for bulk LPG at the concluding state of every month for next month’s transactions.
Most of Bangladeshi private companies import their bulk LPG from the Middle-East on the basis of Saudi CP and market it in the country.
The BERC for the first time fixed the retail level LPG price on April 12 after holding a public hearing to comply with a High Court order.
About 20 private companies have been operating in the market with more than 95 per cent market share by annually importing 1.2 million metric tons of bulk LPG from mainly Middle-East while the state-owned LP Gas Company is locally producing 25,000 MTs of LPG from locally produced condensates at different gas fields.