LPG price reduced

The price of liquefied petroleum gas (LPG) has been reduced at the consumer level in Bangladesh, with the new rates set to take effect from 6pm on Tuesday (June 2).

In a notification issued, the Bangladesh Energy Regulatory Commission announced that the price of a 12kg LPG cylinder for June has been cut by Tk 55, bringing the retail price down to Tk 1,885 from Tk 1,940 on Tuesday.

The regulator said the revised price will be effective from 6pm on June 2.

BERC has also reduced the price of autogas. The new retail price, including VAT, has been set at Tk 86.93 per litre, down Tk 2.59 from the previous rate.

The latest adjustment follows a period of price stability in May, when LPG prices remained unchanged.

Earlier this year, however, prices saw significant increases. On April 2, BERC raised the price of a 12kg cylinder by Tk 387 to Tk 1,728. The regulator again increased the price on April 19, adding Tk 212 and setting the rate at Tk 1,940 per cylinder.

BERC has been regulating LPG prices since April 2021. The price is determined based on international market rates for propane and butane, the two main components of LPG.

Each month, Saudi energy giant Saudi Aramco publishes benchmark contract prices, commonly known as the Saudi CP (Contract Price), which serve as the reference point for LPG pricing in Bangladesh.

The regulator also factors in import costs and the average exchange rate based on importers' invoices when determining monthly LPG prices.