LPG price hike: Per cylinder now Tk 1,391

The Bangladesh Energy Regulatory Commission (BERC) Thursday boosted liquefied petroleum gas (LPG) rates by Tk 151 per cylinder, one of the highest increases in recent memory.

A household gas cylinder would now cost Tk 1,391 instead of Tk 1,240, owing to the price increase ascribed to Russia's invasion of Ukraine.

Not only have the cost of cylinders for domestic use been raised, but the price of gasoline for automobiles has also been raised to TK 64.78 per litre from TK 57.51.

According to BERC Chairman Abdul Jalil, the Russia-Ukraine conflict has driven up LPG prices globally, causing an energy market catastrophe.

"As the Saudi contract price (CP) has risen globally — from $775 per metric tonne to $911 per metric tonne," he said, "we are forced to raise local LPG rates." "Previously, local suppliers experienced supply problems. However, the issue has now been fixed."

However, the BERC chairman stated that the state-owned LP Gas Company's LPG prices will remain steady because they are not connected to global market costs.