LPG price slashed by Tk3.34 per kg

The liquefied petroleum gas (LPG) price has been reset at Tk120.18 per kg, reflecting a decrease of Tk3.34 per kg, in accordance with the monthly rate adjustment conducted by the Bangladesh Energy Regulatory Commission (Berc).

According to the new rate, consumers will have to pay Tk1,442 for a 12kg cylinder, which is Tk40 lower than the previous rate. 

The new rates took effect at 6pm today (3 April).

In addition, the price for "autogas," or automotive LPG, an alternative fuel for vehicles, has been lowered to Tk66.21 from the previous Tk67.68 per litre.

As of April 2021, LPG rates were determined at the discretion of companies. However, since then, the price has been adjusted every month in line with the cost of imports, following the rates set by the Saudi company Aramco.

However, consumers are expressing dissatisfaction with the prices set by Berc. Their primary grievance is the discrepancy between the announced fixed prices and the actual prices observed in the market. Sellers are reportedly charging prices at their discretion rather than adhering to the fixed rates.

Nurul Amin, chairman of Berc, announced the new prices at a press briefing yesterday and stated that actions are being taken.

"We have already taken action against many companies. If we receive specific complaints against any companies, we will take action against them in the future as well," read a press release issued by the Berc.

In 2023, the prices of LPG and auto gas decreased five times and increased seven times. According to a press release issued by the Berc, prices decreased in January, March, April, June, and July, while they increased in February, May, August, September, October, November, and December last year.