12kg LPG cylinder price up Tk23
The price of LPG (auto gas) used in vehicles has been set at around Tk64.43 per kg, which was Tk63.36 a month ago. However, the price of LPG supplied by government companies has remained unchanged
The price of 12kg liquefied petroleum gas (LPG) cylinders has been hiked by Tk23 to Tk1,404 for December.
The price of LPG (auto gas) used in vehicles has been set at around Tk64.43 per kg, which was Tk63.36 a month ago. However, the price of LPG supplied by government companies has remained unchanged.
The new prices will come into effect from 6pm on Sunday (3 December), the Chairman of Bangladesh Energy Regulatory Commission Nurul Amin announced in a press conference yesterday.
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Although the price of LPG in the global market remained unchanged, the price rise in the domestic market is due to the depreciation of the taka against the dollar, said the commission.
Nurul Amin said that the average price of the dollar last month was Tk113.92, which is now Tk116.39. That is why the commission has raised the LPG price to adjust the foreign currency fluctuation loss.
The commission calculates the dollar price for the entire month by averaging the invoice price of the importing company.
The price of a 12kg LPG cylinder was the lowest at Tk999 in July this year.
The price continued to rise since then, reaching Tk1,284 in September, Tk1,363 in October and Tk1,381 in November.
Till 12 April 2021, LPG rates were fixed by the companies.
At the time, the government announced that prices of LPG, which is highly dependent on import, will be fixed by authorities based on the price announced by the Saudi state company Aramco.
If Saudi prices go up, the base price will go up, according to the government announcement.
The regulatory commission has been setting up the LPG rates every month since the announcement.
As per the commission's new rates, the private LPG price inclusive of value added tax has been pegged at around Tk117.02 per kg, which was Tk115.09 last month. As such, the prices of different sizes of LPG cylinders will be determined.
Various sizes of cylinders are available in the market starting from 5.5 kg to 45 kg. Apart from household cooking, LPG is also being used in restaurants, transport, small and large industries. More than 99% of this market is occupied by the private sector.
