LPG prices to go up again from today

Consumers will have to pay a higher price to buy liquefied petroleum gas (LPG) as the energy regulator yesterday announced its new price in line with the international market price.

As per the new price, consumers will have to pay Tk 1,033 for a cylinder of 12kg LPG from today instead of Tk 993, up by Tk 40.

Last month, the price was raised by Tk 102 for the same quantity of LPG and the prices of other quantities were raised at the same ratio.

The Bangladesh Energy Regulatory Commission (BERC) announced the new price of LPG adjusting it with Saudi Contract Price (CP) as the local LPG operators import the bulk petroleum gas from the Middle East.

"As the price of Saudi CP has gone up internationally, we have to follow it in fixing the new price," said BERC Chairman Abdul Jalil.

He said, "If the price comes down, we will act accordingly."

However, the LPG price of the state-owned LP Gas Company Ltd will remain unchanged at Tk 591 for 12.5kg LPG as it sells products from condensates produced in local gas fields and has no relation with Saudi CP.

Some 20 private companies dominate the local LPG market with more than 95 percent market share through an annual import of 1.2 million tonnes while the LP Gas Company supplies only 25,000 tonnes.

Based on the Saudi CP, the BERC also revised the autogas price at Tk 50.56 instead of Tk 48.71 per litre.

The BERC chairman announced the new LPG price at a virtual briefing. Other members of the commission were present.

Usually, Armaco, the largest company of Saudi Arabia, announces its CP for bulk LPG at the fag end of each month for the next month's transactions.

Most Bangladeshi private companies import their bulk LPG from the Middle East on the basis of Saudi CP and market it locally.

The BERC for the first time fixed the retail LPG price on April 12 after holding a public hearing to comply with a High Court order.