The Bangladesh Energy Regulatory Commission (BERC) has raised the tariff of liquefied petroleum gas (LPG) to Tk 1,259 for a 12 kg cylinder as the price of the imported gas continues to rise in the international market.
As per the new tariff, consumers will have to pay Tk 1,259 for a cylinder of 12kg LPG instead of September’s price of Tk 1,033.
"The new tariff of LPG comes into effect on Sunday," said BERC chairman Md Abdul Jalil. He said the Saudi CP price has soared by $140 per tonne, which will push the tariff of LPG.
The BERC announced the new price of LPG after adjusting it with Saudi Contract Price (CP) as the local LPG operators import petroleum gas from the Middle East.
"As the price of Saudi CP has gone up internationally to $796.75, we have to follow it in fixing the new tariff," said BERC Chairman Abdul Jalil.
He said, "The tariff of LGP and autogas will be adjusted on the 7th of each month."
However, the LPG price of the state-owned LP Gas Company Ltd will remain unchanged at Tk 591 for 12.5kg LPG as it sells products from condensates produced in local gas fields and has no relation with Saudi CP.
Usually, Armaco, the largest company in Saudi Arabia, announces its CP for bulk LPG at the fag end of each month for the next month's transactions.
Most Bangladeshi private companies import their bulk LPG from the Middle East based on Saudi CP and market it locally.
The BERC for the first time fixed the retail LPG price on April 12 after holding a public hearing to comply with a High Court order.