The Bangladesh Energy Regulatory Commission (BERC) has re-fixed the price of Liquefied Petroleum Gas (LPG) of private companies at retail level with effect from June 1.
As per the new prices, the private companies will have to sell 12 kg LPG at Tk 842 instead of current price of Tk 906.
The regulatory body re-fixed the price adjusting with Saudi Contract Price (CP), reports UNB.
The price of LP Gas Company Ltd, the state-owned company, will remain same at Tk 591 for 12.5 kg LPG as it has no relation with Saudi CP.
The other quantity’s LPG will be selling at lowered price to be fixed rationally.
The Auto gas price was also re-fixed at Tk 41.47 per litre against the current price of Tk Tk 44.70 under the price adjustment procedure.
“This price will be applicable for the month of June until further adjustment in the Saudi CP,” said BERC Md Abdul Jalil while announcing the new price through a virtual briefing on Monday.
“The private companies’ LPG price was re-fixed on the basis of Saudi CP,” he told reporters.
Normally Saudi biggest oil company Armaco announces its CP for bulk LPG at the concluding state of every month for next month’s transactions.
Most of Bangladeshi private companies import their bulk LPG from the Middle-East on the basis of Saudi CP and market it in the country.
The BERC for the first time fixed the retail level LPG price on April 12 after holding a public hearing to comply with a High Court order.
About 20 private companies have been operating in the market with more than 95 per cent market share by annually importing 1.2 million metric tons of bulk LPG from mainly Middle-East while the state-owned LP Gas Company is locally producing 25,000 MTs of LPG from locally produced condensates at different gas fields.
The BERC chairman admitted that though they fixed the price, still product of some companies are selling at higher price in Dhaka city and some other places.
“We have sent letters to the Commerce Ministry and the Energy Division seeking their cooperation to enforce and monitor the new price”, he said adding this is a responsibility of other administrative offices along with BERC.