Bangladesh keeps LPG costs steady despite fall in global prices

The government has cited currency devaluation for not lowering prices

Despite a slight drop in global prices, the Bangladesh government has opted to keep domestic prices for liquefied petroleum gas, or LPG, unchanged in January, citing the ongoing depreciation of the local currency.

The cost of a standard 12kg LPG cylinder, widely used in households, remains at Tk 1,455 -- the same price set in November and December, the Bangladesh Energy Regulatory Commission, or BERC, announced Thursday.

The new pricing structure takes effect from 6pm Thursday.

For January, the price of LPG per kilogram has been set at Tk 121.19. The prices for cylinders of other sizes have been adjusted accordingly.

Meanwhile, the price of autogas for vehicles has been fixed at Tk 66.78 per litre, and reticulated gas at Tk 117.37 per kg.

According to the prices announced by Saudi Aramco, the average price of propane and butane in the international market for January has been set at $618.50, which was $631.75 for December.

BERC Member (Gas) Mizanur Rahman said, “Although the price in the international market has decreased slightly, that benefit could not be utilised in determining the price due to the depreciation of the taka against the dollar. The average price of propane and butane had decreased by $13.25 per tonne.”

While the exchange rate per dollar in December was Tk 120.21, it is being calculated at Tk 122.34 in January.