The Bangladesh Energy Regulatory Commission (BERC) has announced a reduction in the price of liquefied petroleum gas (LPG), bringing the cost of a 12kg cylinder down by Tk28 to Tk1,450.
Simultaneously, the price of auto gas has been lowered by Tk1.31 per litre, now standing at Tk66.43.
BERC Chairman Jalal Ahmed disclosed the revised prices at a press conference on Monday (3 March).
The announcement was made in the presence of commission members Syeda Sultana Razia, Md Mizanur Rahman, and Md Abdur Razzaq. The new pricing will take effect from 6pm and remain valid until further notice.
The adjustment follows a decline in international LPG prices.
In January, LPG prices were revised twice, with an initial adjustment on 2 January, followed by a subsequent increase to Tk1,459 due to a VAT hike.
In February, prices were raised again by Tk19, setting the rate at Tk1,478.
Despite a drop in global LPG prices in January, BERC initially refrained from reducing rates due to an appreciation of the US dollar.
Compared to December, the average price of propane and butane per tonne had fallen by $13.33, warranting a reduction in domestic prices.
BERC has been regulating LPG prices since 12 April 2021, when it introduced a pricing formula linked to fluctuations in Saudi contract prices, ensuring that the base price aligns with international trends while other commission charges remain unchanged.
Since then, the commission has been announcing monthly LPG price adjustments.
However, there are persistent complaints that the regulated LPG prices set by BERC are rarely enforced in the market, raising concerns about compliance and the effectiveness of price controls.
