Business Report: The government has set new prices for Liquefied Petroleum Gas (LPG) at the consumer level. For the current month of February, the price of a 12 kg LPG cylinder has been increased by 19 taka, setting the new price at 1,478 taka.
The regulatory body, Bangladesh Energy Regulatory Commission (BERC), announced the new rates during a press conference on Sunday. The new prices will take effect from this evening.
BERC stated that for February, the declared Saudi CP (Contract Price) for propane and butane by Saudi Aramco is 635 USD and 625 USD per metric ton, respectively, with a propane and butane ratio of 35:65.
Considering the average Saudi CP for propane and butane at 628.50 USD per metric ton, the prices of private LPG and autogas at the consumer level have been adjusted for February.
Previously, the price of LPG was kept unchanged for January. However, on January 14, the price of a 12 kg cylinder was increased by 4 taka, resetting it to 1,459 taka for the month.
BERC has been determining LPG prices since April 2021. The primary components of LPG, propane and butane, are imported from various countries.
Saudi Aramco, a Saudi Arabian company, publishes the prices of these two components every month, and BERC adjusts the prices in the country accordingly.