The government has adjusted the retail price of liquefied petroleum gas (LPG) on Monday for the second time since April in line with the global market price.
The Bangladesh Energy Regulatory Commission (BERC) in its latest price adjustment has set the retail price of a 12kg LPG cylinder at Tk 842 including VAT from the existing Tk 906.This is the maximum retail price for LPG in the country which will come into effect from 1 June, BERC Chairman said at a virtual press conference on Monday.
As per the new price, the LPG rate at the retail level has been fixed at Tk 70.17 per kg. However, the price of state-owned LPG will remain the same as the cost has not changed at the production stage.
Speaking at the press conference, BERC Chairman Abdul Jalil said the consumer price adjustment came as the price of LPG raw material-Propane and Butane- gone down in the world market.
He said three factors are involved in the price adjustment -- the rate of Saudi CP (Contract Price), the exchange rate of the dollar, and changes in VAT.
About the private LPG operators’ non-participation in the entire price adjustment process, he said LPG Operators Association of Bangladesh has been making some demands regarding the LPG price-fixing process from the very beginning.
On April 12, BERC has fixed the retail prices of liquefied petroleum gas (LPG) for the first time in the country after a mass hearing.The price is now adjusted every month based on the Saudi Contract Price (CP) of Propane and Butane, the raw materials for the cooking gas.
Last month, the BERC also brought down the retail price of the fuel by around 7 per cent to Tk 906 for every 12kg cylinder.