The Bangladesh Energy Regulatory Commission (BERC) on Saturday agreed to cut the prices of liquefied petroleum gas (LPG) and furnace oil by 15 percent and 13 percent respectively, effective Sunday. Earlier this month, state-run Bangladesh Petroleum Corporation (BPC), the lone oil importer and distributor proposed the reductions to compete better with private importers.
The BPC will lower the price of a 12.5 kg cylinder of LPG to 850 taka ($12.50) from 1,000 taka ($14.51) and of furnace oil to 26 taka ($0.38) from 30 taka ($0.44) per litre.
The BPC produces nearly 22,000 tonnes of LPG annually but its sales have been reduced as private importers are selling at 900 taka after the drop in oil prices in the international market. The BPC produces around 300,000 tonnes of furnace oil annually at the Eastern Refinery when it refines crude oil to produce diesel, kerosene and petrol.
Comments
Comments are closed.