LPG price slashed by Tk 6.33 per kg

Price of Liquefied Petroleum Gas (LPG) has decreased by Tk 6.33 per kg to Tk 118.54 from the previous price of Tk 124.85 per kg for the month of March.

Bangladesh Energy Regulatory Commission (BERC) announced its latest price through a press release on Thursday.

As per the new price, 12kg LPG cylinder cost has cut by Tk 76 as a retail consumer will get it at Tk 1,422 instead of previous price of Tk 1498 (including VAT).

LPG prices for other sizes of cylinders – from 5.5kg to 45kg – will go down rationally, said the BERC press release.

An official of the BERC said that the prices witnessed such fall due to a decline in the prices of Saudi CP (contract price).

Last month, as per the Saudi CP, the LPG price was $790 per metric ton while the current month’s CP was set at $733 per MT with increase by $57 per MT, he added.

Bangladeshi LPG operators normally import their products from Middle-East Market on the basis of Saudi CP.

As per the BERC decision, the price of “auto gas” (LPG used for motor vehicles) also decreased to Tk 66.22 per litre (including VAT) from previous Tk 69.71 per litre, down by Tk 3.49 per litre.

The new prices will be effective from 6 pm today (2 March, 2023).

The price of LPG, marketed by state-owned LP Gas Company, will remain the same as it is locally produced with a market share of less than 5 per cent.

The LPG price witnessed the highest price at Tk 1,498 (per 12kg cylinder), in the local market in February this year following the start of the Russia-Ukraine war in February last year.

Normally, the BERC Chairman announces the LPG price at the beginning of every month through a virtual press briefing.

This time, there was no press briefing as four members out of five including the BERC chairman recently retired from their jobs after expiry of their contracts with the government.

New chairman has not been appointed yet, said a BERC official.