The Bangladesh Energy Regulatory Commission (BERC) on Wednesday lowered the price of liquefied petroleum gas (LPG) by Tk 3.34 per kg, setting the new rate at 120.18 per kg, down from previous Tk 123.52.
This price change will be effective from 6:00pm today, indicating a decrease in household and commercial expenses.
BERC at a press briefing said that the price for a standard 12kg LPG cylinder will now be Tk 1442, down by Tk 40 from the previous price of Tk 1,482.
This adjustment follows a rational scale across various LPG cylinder sizes, ranging from 5.5kg to 45kg, addressing the need for a proportional price revision across different consumer segments.
Furthermore, the price for "auto gas", the LPG variant used in motor vehicles, has also seen a lower rate at Tk 66.21 instead of the previous price of Tk 67.68 per litre.
Notably, LPG prices marketed by the state-owned LP Gas Company will remain unchanged. This exception is attributed to its local production and the company's minimal market share, which is less than five percent.
The decision to adjust LPG prices comes in the wake of declining costs in the international market, specifically tied to the increase in the Saudi CP (contract price), which serves as a benchmark for local operators importing LPG primarily from the Middle East.