12kg LPG price increased to Tk1,433

The price of a 12 kg liquefied natural gas (LPG) cylinder has been increased by Tk29 to Tk1,433 for January at the consumer level from December's price of Tk1,404.

The new prices came into effect on Tuesday evening, officials of the Bangladesh Energy Regulatory Commission announced in a press conference.

As per the commission's new rates, the private LPG price, inclusive of value-added tax, has been pegged at around Tk119.4 per kg, which was Tk117.02 last month.

The prices of different sizes of LPG cylinders will be determined accordingly.

Meanwhile, the price of LPG (autogas) used in vehicles has been set at around Tk65.67 per kg, up from Tk64.43 per kg a month ago. Also, the price of reticulated LPG has been fixed at Tk115.57 per kg.

However, the price of LPG supplied by government companies has remained unchanged.

The commission calculates the dollar price for the entire month by averaging the invoice price of the importing company.

The price of a 12kg LPG cylinder was the lowest at Tk999 in July last year.

The price continued to rise since then, reaching Tk1,284 in September, Tk1,363 in October, Tk1,381 in November and Tk1,404 in December.

Various sizes of cylinders are available in the market starting from 5.5 kg to 45 kg. Apart from household cooking, LPG is also used in restaurants, transport, and small and large industries. The private sector occupies more than 99% of this market.

Till 12 April 2021, LPG rates were fixed by the companies.

At the time, the government announced that prices of LPG, which is highly dependent on import, would be fixed by authorities based on the price announced by the Saudi state company Aramco.

If Saudi prices go up, the base price will go up, according to the government announcement.

The regulatory commission has been setting up the LPG rates every month since the announcement.