Bangladesh regulator raises LPG prices for July

Bangladesh Energy Regulatory Commission or BERC has raised the retail prices of cylindered liquefied petroleum gas by Tk 4.07 to Tk 74.24 per kg, effective for the month of July.

The regulator on Wednesday cited a hike in LPG prices in the global market as the reason behind raising the price locally.

It was decided earlier that LPG prices will be revised every month by adjusting with the prices of propane and butane of Saudi Aramco.

The price for July has been fixed on the basis of Aramco’s contract price for June, BERC Chairman Abdul Jalil said at a virtual press conference.

In line with the new prices, one cylinder of 12 kg LPG will cost a customer maximum Tk 891, compared to Tk 842 in June and Tk 906 before that.

Transport, distributorship and other charges, and VAT have been kept unchanged.

The BERC set the price of LPG for the first time on Apr 12. It was lowered twice in the subsequent months.

But customers say that the fixed prices have not been implemented at the field level. In Dhaka, a 12kg gas cylinder is being sold for over Tk 1,000. And, in some remote areas, the market price is below the rate set by the BERC.

Asked about the issue, BERC Chairman Jalil said the implementation of the price cuts is not up to the BERC alone, but requires the cooperation of all.

The BERC also urged people to file complaints so that the authorities can act against particular dealers or distributors.

Jalil said the BERC was also making a list of the LPG dealers, but only 10 out of 28 companies have so far submitted the names of their distributors.