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Dhaka Sunday,  Mar 26, 2023

LPG Price Goes Up By Tk22.15 Per kg, Highest In 2 years

EB Report/UNB

Price of Liquefied Petroleum Gas (LPG) has substantially increased by Tk22.15 per kg to Tk124.85 from the previous price of Tk102.70 per kg for the month of February.

Bangladesh Energy Regulatory Commission (BERC) announced its latest price through a press release on Thursday.

As per the new price, 12kg LPG cylinder cost has increased by Tk329 as a retail consumer will get it at Tk1561 instead of previous price of Tk1,232 including VAT.

LPG prices for other sizes of cylinders – from 5.5kg to 45kg – will go up rationally, said the BERC press release.

An official of the BERC said that the prices witnessed such an excessive rise due to huge increase in the prices of Saudi CP (contract price).

Last month, as per the Saudi CP, the LPG price was $599.59 per metric ton while the current month’s CP was set at $790 per MT with increase by $190.25 per MT, he added.

Bangladeshi LPG operators normally import their products from Middle-East Market on the basis of Saudi CP.

As per the BERC decision, the price of “auto gas” (LPG used for motor vehicles) also increased to Tk69.71 per litre including VAT from previous Tk57.41 per litre, up by Tk12.3 per litre.

The new prices will be effective from 6pm on Thursday.

The price of LPG, marketed by state-owned LP Gas Company, will remain the same as it is locally produced with a market share of less than 5%.

The LPG price went up to Tk 1,439 (per 12kg cylinder), in the local market, following the start of the Russia-Ukraine war in February last year. But this month of February witnessed the highest price since Russia-Ukraine began.

Normally, the BERC Chairman announces the LPG price at the beginning of every month through a virtual press briefing.

this time, there was no press briefing as four members out of five including the BERC chairman recently retired from their jobs after expiry of their contracts with the government.

New chairman and or any member for the regulatory body has not been appointed yet, said a BERC official.

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