Liquefied petroleum gas (LPG) price has been raised by Tk 16 to Tk 1,235 per 12-kg cylinder at the retail level.
Bangladesh Energy Regulatory Commission (BERC) has hiked the price due to high rate of dollar exchange.
It announced the new price at a virtual press briefing on Wednesday.
Now, a 12kg cylinder will be sold at Tk 1,235, which was Tk 1,219 last month.
The new tariff will be effective from 1pm on Wednesday.
BERC acting chairman ABM Faruque informed that the dollar exchange rate was considered Tk 104.02 on the basis of the weighted average rate of 16 importing companies' LC settlements.
Referring to the Commission’s discussion with Bangladesh Bank, he said the central bank’s dollar exchange rate is not applicable to private importers.
“BB informed the BERC that only two government entities enjoy the benefits of the central bank’s set dollar rate”, he added.
As a result, local banks are not abiding by the dollar rate fixed by Bangladesh Bank. Rather, they set the dollar price depending on the demand and supply and their relation with clients.
Banks are calculating dollar rates much higher than Bangladesh Bank’s rate.
