After 3 months of continuous upward trend in prices, the energy regulator has lowered the price of the Liquified Petroleum Gas (LPG) with effect from 6 pm on Thursday.
As per the announcement of Bangladesh Energy Regulatory Comission (BERC), consumers will enjoy the LPG gas at a lowered price by Tk 8.68 per kg as the new price has been set at Tk 111.26 instead of previous price of Tk 119.94.
As a result, a 12kg LGP container, a popular one, will be selling at Tk 1,335 including VAT instead of last months’ price of Tk 1,439, lowered by Tk 104.
BERC chairman Abdul Jalil announced the new price of LPG on Thursday afternoon.
He said the new price of LPG will be rationally applicable for other containers from 5 kgs to 45 kgs.
The BERC also set the auto gas price at a lower rate of Tk 62.21 per litre instead of previous Tk 67.02 for the the motor vehicles.
Abdul Jalil said that globally the price of Saudi CP (contract price) has declined which gives the benefit to the local consumers as Bangladeshi private LPG operators mainly import the gas from the Middle East market based on Saudi CP.
He, however, said the price of LPG, marketed by the state-owned LP Gas Company, will have no effect as it is locally produced which market share is less than 5 percent.
The LPG price was lowest at Tk 1225 for 12 kg in January this year and it witnessed the continuous hike in price in February, March and April.
Industry insiders said the global LPG market witnessed a rising trend in prices following the Russia-Ukraine war that began in February this year.
The BERC, for the first time, fixed the retail-level LPG prices on April 12 after holding a public hearing to comply with a High Court order.