The energy regulatory body has further cut the prices of liquefied petroleum gas on Monday, after its prices went down in the global market.
The regulator, Bangladesh Energy Regulatory Commission (BERC), came up with the announcement at a virtual press conference on Monday.
According to the new prices, a 12 kg cylinder LPG marketed by private companies will be sold at Tk 842, down from Tk 906, including value-added tax.
The retail price will come into effect on Tuesday (June 1, 2021).
However, the state-owned company’s LPG price remains unchanged.
The new price of LPG used in motor vehicles has been set at Tk 41.74 per litre, down from Tk 44.60.
“The LPG prices have been re-set considering changes in the Saudi CP, the exchange rates of taka against the dollar, and the banking rates,” BERC chairman Abdul Jalil said.
He added that the companies could sell the product at lower prices than the BERC fixed prices. “But the LPG cannot be sold at higher prices,” said Jalil.
A letter has been sent to the commerce secretary and energy secretary, requesting them to enforce the local administration to play a role in implementing the prices announced by the commission, he informed.
BERC members Mohammad Abu Faruque, Md Maqbul-E-Elahi Chowdhury, and Mohammad Bazlur Rahman were also present at the event.
The commission fixed the prices of LPG for the first time in the country on April 12 this year, and said it would set new prices every month, keeping pace with the international market.
According to Saudi Aramco, contract prices (cp) LPG raw materials propane came down to $495 a ton, butane to $475 in May 2021.
Meanwhile, consumers said they did not benefit from the BERC’s cut in LPG prices in April.
The retailers are yet selling the cooking gas at the previous prices, they added.