Bangladesh raises LPG prices by 21% for February

The new LPG price hike comes on top of a gas price hike

Published : 2 Feb 2023, 12:16 PM
Updated : 2 Feb 2023, 12:16 PM

Bangladesh has raised the retail prices of liquefied petroleum gas for February by 21.57 percent to Tk 124.85 per kg, in addition to a gas price hike, threatening to fuel inflationary pressure.

The new rates will be effective from 6 pm Thursday, the Bangladesh Energy Regulatory Commission said in a statement.

The price of a 12kg cylinder, commonly used for cooking, accordingly rose to Tk 1,498, up from Tk 1,232 last month.

But the customers were hit with a surge in LPG prices before the announcement was made by the commission.

The retail price of a 12kg LPG cylinder rose by at least Tk 200 last week and cylinders were unavailable at many retail outlets. Traders blamed a “supply crunch” for the crisis.

The price of reticulated LPG has been set at Tk 121.62 per kg. The price of autogas, LPG used in vehicles, has been set at Tk 69.71 per litre.

Saudi Aramco set the price of a mix of propane and butane, at a ratio of 35 to 65, at $790 in February. The new prices were based on these rates, according to the BERC.