The price of liquified petroleum gas (LPG) in a 12-kg cylinder sold by private operators has been reduced by Tk93 with effect from 6pm on Thursday.
However, the price of LPG, marketed by the state-owned LP Gas Company Ltd (LPGL), remain unchanged as it is locally produced. its market share is less than 5 percent. The current price of the 12.5kg LPG cylinder sold by LPGL is Tk 591.
The Bangladesh Energy Regulatory Commission (BERC) chairman Md Abdul Jalil announced the new price at a virtual press conference on Thursday. Among others commission members Mohammad Abu Faruqe, Md Maqbul-E-Elahi Chowdhury, Mohammad Bazlur Rahman, Md Kamruzzaman and Secretary Md Khalilur Rahman Khan were also present at the press conference.
As per the announcement of BERC, A 12-kg cylinder containing LPG will now cost Tk1,242, down from Tk1,335 in May. Consumers will enjoy the LPG gas at a lowered price by Tk 4.83 per kg as the new price has been set at Tk 103.29 instead of previous price of Tk 108.12. The new price of LPG will be rationally applicable for other containers from 5 kgs to 45 kgs.
Earlier in May, BERC reduced the price of 12-kg cylinder by Tk104 settling at Tk1,335. The price of autogas used for motor vehicles has also come down from Tk62.21 per litre to Tk57.91 per litre.
At the press conference, the BERC chairman said, "If retailers demand a higher price, complain to the Directorate of National Consumer Rights Protection, or let us know. Of course, action will be taken against them. The Directorate of National Consumer Rights Protection has already conducted several operations.
LP gas prices have been declining since May after several months of upward trend. In May, the price of LP gas (12 kg) was fixed at Tk 1,335 and that of autogas was fixed at Tk 62.21 per liter.
The LPG cylinder price cut comes following a fall in the price of propane and butane – the component raw materials for LPG – set by the Saudi contract price.
Saudi Arabian company Aramco, publishes the price of these two components of LPG every month, known as Saudi Cargo Price (CP). BERC adjusts the price of LPG in the country based on this Saudi CP.
The BERC, for the first time, fixed the retail-level LPG prices on April 12, last year after holding a public hearing to comply with a High Court order.
