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).
At a press conference on Monday, the Bangladesh Energy Regulatory Commission (BERC) revealed the new pricing.
According to the release, prices for other amounts of LPG would decrease at the same rate as the new price.
The price of autogas for motor vehicles has also been reduced to Tk 54.95 per litre, down from Tk 57.24 per litre previously.
Chairman of the BERC, Abdul Jalil, made the statement and stated that the price of retail LPG has decreased as the cost of production has decreased.
"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.
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.
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.
Responding to a question, the BERC chairman said the Commission will take initiatives to install an electronic dashboard at retail LPG outlets to ensure the sale of the products at the proper rate to be fixed by the BERC.
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.