12 kg LPG cylinder price up Tk8
Notably, LPG prices marketed by the state-owned LP Gas Company will remain unchanged. This exception is attributed to its local production and the company’s minimal market share, which is less than 5%.
The Bangladesh Energy Regulatory Commission (BERC) today set the price of a 12 kg cylinder of liquefied petroleum gas (LPG) at Tk1482, up by Tk8 from the previous price.
The announcement came from BERC Chairman Nurul Amin at a press conference, marking the second consecutive month of price hikes. February saw a significant increase of Tk41 in LPG prices.
The new price came into effect at 6pm on Sunday (3 March).
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The price has been revised to increase by Tk0.66, setting the new rate at Tk123.52 per kg, up from the previous Tk122.86.
BERC detailed the adjustment, noting that the price for a standard 12 kg LPG cylinder will now be Tk1,482, including VAT and marking an increase from the previous Tk1,474; an increase of Tk8.
This adjustment follows a rational scale across various LPG cylinder sizes, ranging from 5.5 kg to 45 kg, addressing the need for a proportional price revision across different consumer segments.
The adjustment in LPG prices is attributed to rising international costs, predominantly influenced by fluctuations in the Saudi Contract Price (CP). While global LPG prices have remained stable, even witnessing a slight decrease, Bangladesh has experienced a surge in domestic prices due to increased transport fares associated with LPG imports from the Middle East.
BERC explained the pricing mechanisms, stating that the dollar price is calculated monthly by averaging importing companies' invoice prices. The decision to revise LPG prices is primarily based on the Saudi CP, serving as a benchmark for local operators importing LPG components such as propane and butane.
Furthermore, the price for "auto gas," the LPG variant used in motor vehicles, has also seen a revision, now priced at Tk68.05 per litre, including VAT, a slight increase from Tk67.68. This adjustment reflects the broader impact of LPG price changes on transportation and related costs.
However, prices from the state-owned LP Gas Company remain unchanged, thanks to localized production and a minimal market share, accounting for less than 5% of the market, BERC further said.
