LPG Operators Association of Bangladesh (LOAB) has urged the Chattogram Port Authority (CPA) and other authorities concerned to take action against the import of illegal liquefied petroleum gas (LPG) from countries under global sanctions. According to official sources, LOAB sent a letter to the CPA on October 6 alleging that an LPG vessel named GAS GMS (IMO 9131539), supplied by Octane Energy Group FZCO, arrived at Chattogram Port on October 3, 2024. This vessel is suspected of carrying LPG sourced from Iran, a country currently under international sanctions. Additionally, another vessel, Captain Nikolas (IMO 9008108), also suspected to be loaded with Iranian LPG, is presently en route to Chattogram, with an expected arrival on October 6, 2024. “We have credible information indicating that, like previous cases, this vessel will falsely declare its cargo as being loaded from Iraq--a country that does not load such vessels. This deliberate misrepresentation further compounds the illegal nature of these shipments,”it added. The association formally requested that the CPA to immediately take action to stop the discharge of LPG from the two vessels GAS GMS & Captain Nikolas, detain the vessels & crew of GAS GMS & Captain Nikolas and conduct a full and thorough investigation into both vessels, including verification of the actual country of origin of the LPG cargo on board. It said it will not take responsibility for such unlawful activities that violate international sanctions and undermine the integrity of Bangladesh's LPG market. “We are fully prepared to cooperate with all relevant authorities to ensure that these illegal shipments are intercepted and that the individuals responsible are held accountable,”said the LOAB letter. The association also mentioned that it had earlier sent two separate letters—one addressing the Adviser of the Ministry of Shipping on September 11 where it highlighted the illegal entry of LPG cargo from suppliers such as Octane Energy Group FZCO, ManasiGroup, and Merano Group. The other letter was addressed to the Governor of Bangladesh Bank, dated September 11, emphasizing the need for stringent financial oversight to prevent LPG import from courtiers facing sanction. Official sources said following the letter to the CPA, it formed a four member investigation committee, headed by its CPA Assistant Harbor Master (PFS) Captain Md. Mostasim Billah while the other members will be representative of Mercantile Marine Office, representative of Customs and representative of Coast Guard. A source said that the Coast Guard also detained the vessel for investigation. But before completion of the investigation, the vessels were allowed to unload the products. Meanwhile, industry insiders said that LOAB has been opposing the import of LPG in such an illegal way because it creates distortion in the market as the importers buy the product at lower rate from the sanctioned country. This cheaper and illegally imported LPG creates a big barrier in the competitive market and secondly,  this gas has no smell, it said adding  if there is a gas leakage, the customer does not understand it, causing risk of accidents.

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.

The price of liquefied petroleum gas (LPG) has increased by Tk 1 per kg. From now, 12 kg container will be sold at Tk 1254 instead of Tk 1242 (May, 2022) from 6 pm Sunday. The Bangladesh Energy Regulatory Commission (BERC) announced the price at a virtual briefing on Sunday. Read: 12kg LPG price lowered by Tk 93 The other quantity containers of LPG 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 increased l to Tk 58.46 per litre instead earlier Tk 57.91 per litre. Abdul Jalil said though the price of LPG has come down on the international market, the price has increased locally due to higher price of US Dollar.   Last month US Dollar price was Tk 85 while this month Dollar price was calculated at Tk 93.50. Jalil said the price of LPG, marketed by the 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 had gone 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. Read:Per kg LPG price declines by Tk 8.68, 12 kg container to be sold at Tk 1335 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.

Be ready to shell out more for a cooking gas cylinder. In one of the steepest hikes in recent times, Bangladesh Energy Regulatory Commission (BERC) Thursday raised liquefied petroleum gas (LPG) prices by Tk 151 a 12-kg cylinder. Read: LPG gets costlier by Tk 62 per 12-kg container A domestic gas cylinder will now cost Tk 1,391 instead of the earlier Tk 1,240 -- a hike that has been attributed to Russia's invasion of Ukraine. Not only domestic cylinders, prices of auto gas have also been increased to TK 64.78 a litre from the current Tk 57.51. BERC chairman Abdul Jalil said the Russia-Ukraine war has pushed up the LPG prices globally, creating a crisis in the energy market. "We are forced to hike the local LPG prices as the Saudi contract price (CP) has risen globally -- from $775 per metric tonne to $911," he said. "Earlier local suppliers faced supply disruptions. But now the problem has been resolved." The BERC chairman, however, said the prices of the state-owned LP Gas Company's LPG will remain unchanged as it's not linked to the global market rates. 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. Read: Private operators’ LPG: Price goes up again 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.

The price of private operators' liquefied petroleum gas (LPG) has declined by Tk 50 to 1178 from Tk 1,228 per 12-kg container with effect from 6 pm today (Monday Dec 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 Monday. 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. Read: BERC to announce new retail LPG price Monday morning The price of autogas for motor vehicles has also been cut down to Tk 54.95 from the present price of Tk 57.24 per litre. Making the announcement, 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 $420 from the previous price of $765.75 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.

Consumers will have to buy liquefied petroleum gas (LPG) at a higher price from August 1 as the energy regulator on Thursday re-fixed its retail price, supplied by private companies. The Bangladesh Energy Regulatory Commission (BERC) has refixed the 12-kg LPG of private companies at Tk 993, up by Tk 102 from the current price of Tk 891. The LPG price is set to go higher for the second consecutive month.   Read: Public hearing on LPG pricing postponed Similarly, the higher prices will be rationally applicable for the LPG of other quantity containers up to 45 kg from 5.5 kg. The BERC announced the new price of LPG adjusting with Saudi Contract Price (CP) on the basis that the local LPG operators import the bulk petroleum gas from the Middle East. However, the price of LPG of the state-owned LP Gas Company Ltd will remain the same at Tk 591 for 12.5 kg 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 per cent market share through an annual import of 1.2 million metric tons while the LP Gas Company supplies only 25,000 mts. Read:Pvt companies’ 12-kg LPG to be costlier

The Bangladesh Energy Regulatory Commission (BERC) has refixed the price of Liquefied Petroleum Gas (LPG) of private companies at retail level with effect from July 1. As per the new price, the private companies will have to sell 12-kg LPG at Tk 891 instead of the current price of Tk 842. Read:Private operators demand fixing LPG price on “practical assessment” basis The regulatory body refixed the price adjusting with Saudi Contract Price (CP). The price of LP Gas Company Ltd, a state-owned company, will remain the same at Tk 591 for 12.5 kg LPG as it has no relation with Saudi CP. In refixing the price, the value of per kg of LPG was considered to be Tk 70.24, including VAT, and such price will be applicable for refixing the price of other weighed containers. The other quantity’s LPG will be selling at higher prices to be fixed rationally. The auto gas price was also refixed at 44 per litre against the current price of Tk 41.47 under the price adjustment procedure. Read:Private companies’ 12 kg LPG price reduced to Tk 842 from June 1 “This price will be applicable for the month of June until further adjustment in the Saudi CP,” said BERC Md Abdul Jalil while announcing the new price through a virtual briefing on Wednesday. "The private companies' LPG price was refixed on the basis of Saudi CP," he told reporters. Normally Saudi biggest oil company Armaco announces its CP for bulk LPG at the concluding state of every month for the next month’s transactions. Most of Bangladeshi private companies import their bulk LPG from the Middle East on the basis of Saudi CP and market it in the country. 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. About 20 private companies have been operating in the market with more than 95 per cent market share by annually importing 1.2 million metric tons of bulk LPG from mainly the Middle East while the state-owned LP Gas Company is locally producing 25,000 MTs of LPG from locally-produced condensates at different gas fields. Read: LPG Growth in Bangladesh: Effective Alternative to Natural Gas Responding to a question, the BERC chairman said they have requested some administrative ministries to take action against the retail sellers who do not abide by the regulator’s price. He said the BERC is unable to take punitive action against the violators of law due to non-framing of required regulations by the Energy Division.  

The Bangladesh Energy Regulatory Commission (BERC) has re-fixed the price of Liquefied Petroleum Gas (LPG) of private companies at retail level with effect from June 1. As per the new prices, the private companies will have to sell 12 kg LPG at Tk 842 instead of current price of Tk 906. Read: LPG Growth in Bangladesh: Effective Alternative to Natural Gas The regulatory body re-fixed the price adjusting with Saudi Contract Price (CP). The price of LP Gas Company Ltd, the state-owned company, will remain same at Tk 591 for 12.5 kg LPG as it has no relation with Saudi CP. In re-fixing the price, the value of per kg of LPG was considered to be Tk 70.17 including VAT and such price will be applicable for re-fixing the price of other weighed containers.  The other quantity’s LPG will be selling at lowered price to be fixed rationally. The Auto gas price was also re-fixed at Tk 41.47 per litre against the current price of Tk Tk 44.70 under the price adjustment procedure. Read:Private companies’ 12kg LPG price re-fixed at Tk 906 “This price will be applicable for the month of June until further adjustment in the Saudi CP,” said BERC Md Abdul Jalil while announcing the new price through a virtual briefing on Monday. "The private companies' LPG price was re-fixed on the basis of Saudi CP," he told reporters. Normally Saudi biggest oil company Armaco announces its CP for bulk LPG at the concluding state of every month for next month’s transactions. Most of Bangladeshi private companies import their bulk LPG from the Middle-East on the basis of Saudi CP and market it in the country. 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. About 20 private companies have been operating in the market with more than 95 per cent market share by annually importing 1.2 million metric tons of bulk LPG from mainly Middle-East while the state-owned LP Gas Company is locally producing 25,000 MTs of LPG from locally produced condensates at different gas fields. Read: LPG operators to get services under one roof soon The BERC chairman admitted that though they fixed the price, still product of some companies are selling at higher price in Dhaka city and some other places. "We have sent letters to the Commerce Ministry and the Energy Division seeking their cooperation to enforce and monitor the new price", he said adding  this is a responsibility of other administrative offices  along with BERC.