The price of private operators' liquefied petroleum gas (LPG) has been increased by Tk 62 to 1,240 from Tk 1178 per 12-kg container with effect from 6 pm today (Thursday, Feb 3) at the retail level, including the value added tax (VAT).
Bangladesh Energy Regulatory Commission (BERC) announced the new price at a press briefing on Thursday.
As per the announcement, the prices for other quantities of the LPG will also go up in line with the new price at the same ratio.
The price of autogas for motor vehicles has also gone up to Tk 57.51 from the present price of Tk 54.95 per litre.
Making the announcement, BERC Chairman Abdul Jalil said the price of retail LPG has witnessed the rise as the bulk LPG of Saudi contract price (CP) has increased globally at the effect of volatility due to Covid-19 recovery trend and also for the brewing tensions between Ukraine and Russia.
"Saudi CP price will go up to $775 from the previous price of $420 per metric ton. Bangladesh's private LPG operators buy the bulk LPG on the basis of the Saudi CP," he told reporters at the virtual briefing.
The other members of the BERC were present on the occasion.
The BERC chairman said the price of the state-owned LP Gas Company's LPG will remain unchanged as it has no relation with the global market price.
According to industry insiders, the Saudi CP is normally announced at the end of every month to make it effective for the next month, and it takes 7-10 days for a shipment of the fuel to arrive in the country.
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-level LPG price on April 12 after holding a public hearing to comply with a High Court order.