LPG prices rise as taka weakens against dollar

Sunday, 3 July 2022

Despite declining prices in international markets, the government has increased the price of liquefied petroleum gas due to the depreciation of the taka against the dollar.

In July, customers will have to pay Tk 104.52 per kg of LPG, including VAT, up from Tk 103.52 in the month of June, according to the Bangladesh Energy Regulatory Commission.

Saudi Arabia’s state oil giant Aramco had set its June contract price for the mixture of propane and butane at $750 a tonne, which fell to $725 in July.

BERC Chairman Md Abdul Jalil said that the taka dipped in its value over the last month and the authorities hiked the price after considering the matter. “The price has increased by only Tk 1 per kg," he said.

A dollar is now worth Tk 93.50, according to the BERC chairman.

For May, the LPG gas price was set at Tk 111.26 per kg, as per a bdnews24.com report. The price of LPG, which is used for cooking, fell by 7.0 per cent in June in accordance with the price decline in international markets.

For July, reticulated LPG has been priced at Tk 101.28 per kg, a Tk 1.0 increase from last month. Autogas, or LPG used in vehicles, will now cost Tk 58.46 per litre at the retail level, up from last month's Tk 57.91 per litre.

The new decision will be effective from Sunday, according to BERC.