Price of Liquefied Petroleum Gas (LPG) has declined by a big margin of Tk 20.37per kg to Tk 98.17 from the previous price of Tk 118.54 for the month of April.
Bangladesh Energy Regulatory Commission (BERC) has reduced the price of LPG by Tk 244 per 12-kg cylinder to Tk 1,178 from the existing rate of Tk 1,422 at retailer level.
The BERC made announcement on Sunday (April 2). Newly appointed chairman of BERC Md Nurul Amin made the announcement at his maiden press conference at BERC office at Karwan Bazar in the capital.
The BERC adjusted the price after LPG prices went down in the global market.
According to the BERC announcement, the new prices will be effective from 6:00 pm on Sunday (April 2, 2023).
BERC Md Nurul Amin also announced that the prices of other sizes of LPG cylinders – from 5.5kg to 45kg – will go down rationally. He said that the priced of LPG will be effective in all places.
Saudi-based agency Aramco fixes the price every month. It is known as the Saudi contract price (CP). The BERC adjusts LPG prices in the country based on this Saudi CP.
The new price of LPG (auto gas) used in cars has been fixed at Tk 54.90 per liter, which was Tk 66.22 earlier, while per kilogram of LPG at Tk 98.17 at retailer level inclusive VAT owned by private sector.
According to the BERC decision, new price at retailer level owned by private sector, 12.5 kg LPG has been fixed at Tk 1,228 at retailer level, 15 kg at Tk 1,472, 16 kg at Tk 1,571, 18 kg at Tk 1,767, 20 kg at Tk 1,963, 22 kg at Tk 2,160, 25 kg at Tk 2,454, 30 kg at Tk 2,945, 33 kg at Tk 3,240, 35 kg at Tk 3,436 and 45 kg at Tk 4,418.
According to Saudi Aramco announcement, price of the Propane and Butane, the price of LPG $555 and $545 per ton was fixed for April 2023 by Saudi Contract Price (Saudi CP) as per Propane and Butane ratio 35:65. The Saudi CP price was fixed $548.50 per ton considering the ration between Propane and Butane average.
In the press conference, BERC new chairman said the commission is planning to sit with all stakeholders to address the anomalies in the price fixation. He also said the BERC will ask the district administration and law enforcement agencies to check any distortion in the market and in price manipulation.
BERC officials said the LPG price witnessed a big fall in the local market due to a decline in the prices of Saudi CP (contract price).
Bangladeshi LPG operators normally import their products from the Middle-East Market on the basis of Saudi CP.
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.
