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12kg LPG cylinder price goes up by Tk51

Published : 02 Nov 2022 09:51 PM | Updated : 03 Nov 2022 12:33 PM

The price of liquefied petroleum gas (LPG) for November has gone up by Tk 3.25 per kilogram or Tk51 for every 12kg cylinder amid the global energy crisis triggered by ongoing Russia-Ukraine war.

As per the new price, a consumer will get a 12-kg LPG cylinder in the retail market at Tk 1,251 instead of previous price of Tk 1,200.

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

The Bangladesh Energy Regulatory Commission (BERC) Chairman Abdul Jalil on Wednesday announced the new price at a virtual press briefing, which would come into effect at 6pm on Wednesday.

BERC reduced the price of a 12 kg LPG cylinder, mostly used for cooking, by Tk35 to Tk1,200 in October. The retail price of per kg LPG was Tk99.65 in September, which was reduced to Tk96.78 for October.

Jalil informed that the US Dollar rate was considered at Tk 106.25 in refixing the price of the LPG as private operators import it from Middle East using foreign currency.

He said that even though the price of LPG had substantially come down in the global market, consumers were still not getting full advantage of the downward trend due to the high rates of US dollar in the local market.

“The prices of LPG for other sizes of cylinders from 5.5 kg to 45 kg will go up rationally,” said BERC chairman Abdul Jalil.

With the price hike, every kg of LPG will cost Tk104.26 (Tk1,251 for a 12kg cylinder), compared to Tk101.01 in October and Tk102.88 in September.

The BERC also announced an increase in the price of Autogas, every cubic meter of which will now cost Tk58.28. It was Tk55.92 in October and Tk57.55 in September.

When it was complained in the conference that LPG is not sold in the market at the price set by the commission, the chairman said, "We cannot take any initiative in this matter unless we receive a written complaint. This cannot be done even in the Act of Commission. We can't be self-motivated like other companies.''

In February the price of LPG shot up to Tk1,439 (a 12kg cylinder) in the local market, following the start of the Russia-Ukraine war.

The price was the lowest at Tk1,225 for a 12kg cylinder in January this year and it witnessed continuous hikes in February, March and April.

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