BERC cuts jet fuel price for both domestic and international flights
Published :
Updated :
For all latest news, follow The Financial Express Google News channel.
Bangladesh Energy Regulatory Commission (BERC) on Wednesday cut the price of jet A-1 fuel, also known as aviation fuel, by 2.59 per cent to US$0.6333 per litre for international flights and by 3.54 per cent to Tk 96.09 per litre for domestic flights from the country’s airports for September compared to the previous month of August.
The commission fixed the jet A-1 fuel price downward, considering the average of Platts rate, the exchange rate of US dollars and the settlement rate of letter of credit (LC) of state-run Bangladesh Petroleum Corporation (BPC), price change of diesel and changes in transport charges of tank lorries and coastal tankers.
The price will be effective from 12 am on Wednesday night.
Wednesday’s price cut was the fourth time that the energy regulatory commission fixed the jet A-1 fuel price.
Previously, state-run Bangladesh Petroleum Corporation (BPC) would fix the price unilaterally following the instruction from the Energy and Mineral Resources Division (EMRD) under the Ministry of Power, Energy and Mineral Resources (MPEMR).
The BPC usually imports around 600,000 tonne of jet A-1 fuel annually to meet the demands of both domestic and international flights being operated by local and international airliners.
Some local petrochemical company also produces jet A-1 fuel after refining condensate.