The price of a 12kg LPG cylinder has been set at Tk 1,474 for the month of February, up Tk 41 from Tk 1,433 the previous month.

The new price of the essential fuel came into effect at 6:00pm yesterday, as announced by the Bangladesh Energy Regulatory Commission (BERC).

Prices of other liquefied petroleum gas (LPG) cylinders – from 5.5 kg to 45 kg – will go up proportionately, BERC Chairman Nurul Amin told a press briefing at his office.

As per the BERC decision, the price of "auto gas" (LPG used for motor vehicles) also increased to Tk 67.68 per litre (including VAT) from Tk 65.76 per litre.

The price of LPG, marketed by state-owned LP Gas Company, will remain the same as it is locally produced with a market share of less than 5 percent, reports UNB.

BERC officials said LPG prices witnessed an increase in the local market due to an increase in the price of Saudi CP (contract price).

Bangladeshi LPG operators normally import their products from the Middle Eastern market based on Saudi CP.

LPG witnessed the highest price at Tk 1,498 (per 12 kg cylinder) in the local market in February last year, following the start of the Russia-Ukraine war in February 2022.