LPG
LPG could be ready solution to energy problem for industries: Speakers
Speakers at a seminar titled: “Strategy Summit 2022: Energy Infrastructure” said that the liquified petroleum gas (LPG) has a lot of potential to be used as energy for industries.“As the locally supplied natural gas has very low pressure, the LPG can be used as alternative fuel,” said Tanzeem Chowdhury, chief executive officer of Omera LPG.Valor of Bangladesh organised the strategy summit at a city hotel on Saturday.The seminar was also addressed by Alamgir Morshed, CEO of Infrastructure Development Company Limited (IDCOL), Humayun Rashid, managing director of Energypac and research director of Centre for Policy Duologue (CPD) Dr Khandaker Golam Moazzem.At this stage, Tanzeem Chowdhury said, the only alternative ready for industries is LPG.Explaining the global and local energy situation, he said the Russia-Ukraine war has pushed up the energy price worldwide.
Read: Hamid looking to send load shedding back to museum by August-endCurrently the price of LNG is $40 perMMBtu while the government is providing gas to the industries at $3 per MMBtu where the cost is covered by a huge subsidy.But LPG is being imported by the private sector at $22 per MMBtu, he said, adding that LPG can be used for power boilers, for heaters, and for some power generators as well.He said LPG is very competitive with LNG and it is the most viable option for industries.Dr Golam Moazzem said the cost and reliability of any energy is the major factor for competitiveness.He said that the capacity payment has been the major challenge for the government due to its unplanned implementation of power projects.Humayun Rashid said the country’s biggest challenge in the power and energy sector is the synchronisation of the power plants with power transmission lines.Many power plants are ready to generate electricity, but their transmission line is not ready, he observed.
LPG gets cheaper by Tk 2.92 per kg
The price of liquefied petroleum gas (LPG) has decreased by Tk 2.92 per kg. From now, 12 kg container will be sold at Tk 1219 instead of Tk 1254, down by Tk 35 from 6 pm on Tuesday. The Bangladesh Energy Regulatory Commission (BERC) announced the price at a virtual briefing on Tuesday. The other quantity of LPG containers from 5 kg to 45 kg will rationally be sold at per the new rates, said BERC chairman Abdul Jalil. As per announcement, the price of auto gas for motor vehicles has been decreased to Tk 56.85 per litre instead earlier Tk 58.46 per litre. Abdul Jalil said though the price of LPG has come down on the international market, consumers are not getting full advantage of the downward trend due high dollar price in local market. The operators have to import LPG from international market. He also said that the BERC observed the local banks are not abiding by the dollar rate fixed by Bangladesh Bank. Rather, they set the dollar price depending on the demand and supply. Banks have calculated dollar rate between Tk 98 and 105 while Bangladesh Bank’s rate was much lower.
Read: LPG price hiked by Tk 1 per kg “We have written to the central bank about the problem. Bangladesh Bank has yet not replied to our letter,” he said. Jalil said the price of LPG, marketed by state-owned LP Gas Company, will have no effect as it is locally produced with a market share of less than 5 percent. The LPG price went up to the highest Tk 1439 (12 kg) in the local market following the start of the Russia-Ukraine war in February this year. The LPG price was lowest at Tk 1225 for 12 kg in January this year and it witnessed continuous hike in price in February, March and April. Abdul Jalil said that globally the price of Saudi CP (contract price) has declined. Bangladeshi private LPG operators mainly import the gas from the Middle East market based on Saudi CP. The BERC, for the first time, fixed the retail-level LPG prices on April 12 after holding a public hearing to comply with a High Court order.
Omera launches online system to provide doorstep delivery of LPG to customers in Dhaka
Omera Patroleum Limited (OPL), a leading LP Gas operator in the country, has introduced online e-commerce system to provide doorstep delivery of LPG to the customers within the capital.
The OPL inked an agreement with My Fuel Pump (MFP) - an online platform to provide the service.
The signing ceremony took place at the Head Office of Omera Petroleum Limited recently.
Considering the vast majority of the urban population enticing into the e-commerce trends, Omera marks milestone by making its LPG products available in MFP’s exclusive app, website and dedicated hotline number for the convenience of the customers, said a press release of OPP.
Customers can order their desired Omera LPG products anytime throughout the week and after receiving orders MFP will deliver the product at customer’s doorstep within a short time, it added.
READ: LPG gets costlier further by Tk 48 per 12-kg container
On behalf of Omera Petroleum Limited, Mr. Tanzeem Chowdhury, CEO of OPL and on behalf of My Fuel Pump Mr. Partha Pratim Choudhury signed the agreement.
Mohammad Abul Kalam, CMO, OPL, Nafeez Imtiaz Karim, Brand Manager, OPL, Mohammed Tabarok Hossain, Head of Internal Audit were also present in the signing ceremony.
LPG gets costlier further by Tk 48 per 12-kg container
Consumers will have to buy Liquefied Petroliam Gas (LPG) at a higher price as the Bangladesh Energy Regulatory Commission (BERC) has re-fixed the price of 12 KG LPG container at Tk 1439 from existing Tk 1391 with effect from 6 pm on Sunday.
It means, a consumer has to pay additional Tk 48 to buy a 12kg LPG container while Tk 4 per kg for other quantities of the containers.
Read: Revoke decision to hike in LPG prices: BNP
Most consumers use the 12kg container while 18kg, 25kg containers are also available in the market.
The new price will be effective from 6 pm on Sunday (April 3), said BERC chairman Abdul Jalil while announcing the price.
According to the new price, the auto gas price has been raised to Tk 67.02 per liter from Tk 63.07.
BERC chairman Abdul Jalil attributed the global price hike of Saudi CP(contract price) due to Russia-Ukraine war and also the increase in Taka-Dollar rate.
Now each dollar’s exchange rate is Tk85.25 which was earlier Tk85.07, he added.
Similarly, the importers have to pay higher amounts against a 7 percent VAT while overall cost is higher than earlier, said the BERC chief.
He said the Saudi contract price (CP) has risen globally to $953-- from $911.25 per metric tonne.
“It is hard to predict whether the price will go up or down in the current global situation”, he said.
Read: LPG gets costlier by Tk 62 per 12-kg container
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 at least 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.
BERC, for the first time, fixed the retail-level LPG prices on April 12 after holding a public hearing to comply with a High Court order.
LPG gets costlier by Tk 62 per 12-kg container
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.
Read: LPG gets cheaper by Tk 50 per 12-kg container
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.
Read: Private operators’ LPG: Price goes up again
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.
BERC to announce new retail LPG price Monday morning
Bangladesh Energy Regulatory Commission (BERC) will announce the new price of LPG at retail level on Monday for the current month.
Retail price of LPG (liquefied petroleum gas) is being announced by the energy regulator in the first week of every month since April last year.
Also read: Retail LPG price declines by Tk 85 in 12kg container
The current price was announced on December 2 where the price of private operators’ LPG had been cut by Tk 85 to Tk 1228 per 12-kg container from Tk 1313 with effect from 6 am Friday (Dec 3) at the retail level.
BERC Chairman Abdul Jalil will announce the current month’s new LPG price through a virtual briefing at 11:30 am on Monday, said a BERC press release.
Also read: Private operators’ LPG: Price goes up again
Retail LPG price declines by Tk 85 in 12kg container
The price of private operators’ liquefied petroleum gas (LPG) has been decreased by Tk 85 to Tk 1228 per 12-kg container from Tk 1313 with effect from 6 am Friday (Dec 3) at the retail level.
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 down in line with the new price at the same ratio. The price of autogas for motor vehicles was also cut down to Tk 57.24 from the present price of Tk 61.18 per litre.
Read: Appeal for LPG price hike: decision on Sunday
Announcing the new price, BERC Chairman Abdul Jalil said the price of retail LPG has witnessed the fall as the bulk LPG of Saudi contract price (CP) has declined globally.
“Saudi CP price has declined to $765.75 from the previous price of $850 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.
Read: Beximco LPG sings deal with Jamuna Oil to sell LPG at pumps
LPG industry insiders said 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.
Responding to a question the BERC chairman said the commission is the legitimate responsible body to fix the prices of all petroleum products including petroleum fuels as per the BERC Law.
“In line with the law the commission forwarded a proposal to formulate the necessary rules in this regard to the Energy Division. But still the file did not return to BERC”, he added.
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.
Private operators’ LPG: Price goes up again
The price of private operators’ liquified petroleum gas (LPG) has been raised to Tk 1,313 per 12-kg container from Tk 1259 with effect from Thursday (Nov 4) at the retail level. Bangladesh Energy Regulatory Commission (BERC) announced the new price at a press briefing. As per the announcement, the prices for other quantities of the LPG will go up in line with the new price. The price of autogas for motor vehicles was also raised to Tk 61.18 from the present price of 58.65 per litre.
Read:LPG gets costlier by Tk 226 per 12-kg container Announcing the new price, BERC Chairman Abdul Jalil said the regulator has to raise the price as the bulk LPG of Saudi contract price (CP) has gone up globally. “Saudi CP price has gone up to $850 from the previous price of $550 per metric ton. Bangladesh’s private LPG operators buy the bulk LPG on the Basra from 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. LPG industry insiders said 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.
Read: LPG Price: Operators demand an increase but consumers want reduction 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.
LPG gets costlier by Tk 226 per 12-kg container
Consumers will have to pay a higher price of Tk 226 to buy a 12-kg container of liquefied petroleum gas (LPG) from today (Sunday) as the energy regulator has raised the price to Tk 1,259 from the existing Tk 1,033.
In the same ratio, the prices of other quantity containers of LPG will go up while the auto gas will be selling at Tk 58.65 instead of the existing rate of Tk 55.27 per litre.
Announcing the new price order, chairman of the Bangladesh Energy Regulatory Commission (BERC) Abdul Jalil said of the enhanced Tk 226, the commission has increased Tk 59 as an overall cost adjustment while the remaining enhancement in the cost was done because of the increased price of Saudi CP.
Read:Appeal for LPG price hike: decision on Sunday
“Following our public hearing, we’ve reset some of the components in the local value of LPG considering the demands of the private sector operators,” he told reporters while announcing the new price of the fuel at the BERC meeting room on Sunday.
Internationally, the Saudi contract price (CP) witnessed a huge hike as each metric ton of LPG was sold at $797 in October while it was $665 in September last, he added.
The other members of the BERC were present on the occasion.
Appeal for LPG price hike: decision on Sunday
The energy regulator will announce its decision on Sunday next on the appeal of the private operators of liquefied petroleum gas (LPG) to re-fix the current rates of the product at the retail level.
The Bangladesh Energy Regulatory Commission (BERC) will announce its decision at 12 noon on October 10, said a press release on Thursday.
On September 13 last, the BERC held a public hearing at BIAM auditorium responding to the appeal of the private LPG operators to raise the current price of the fuel.
Read: LPG Price: Operators demand an increase but consumers want reduction
Participating in the hearing, right groups strongly opposed the operators’ demand for raising the LPG price.
The rights groups urged the BERC to proceed on the issue cautiously to avert litigation in higher court, while the operators insisted on increasing the price further to cover losses in their business.
Both sides placed their respective arguments during the public hearing held at the BIAM Auditorium. Convened by the BERC, it was presided over by the commission chairman Abdul Jalil. Other members of the BERC also attended the hearing.
Read: LPG prices to go up again from Sept 1
The BERC has been fixing the LPG price on a monthly basis since April 12 this year. But LPG Operators of Association of Bangladesh (LOAB) opposes the process saying that much of their costs were not calculated and considered in price fixing that resulted in losses to their business.