Price of Liquefied Petroleum Gas (LPG) has been slashed by Tk13.42 per kg to Tk89.48 from the previous price of Tk102.9 for the month of June.
Bangladesh Energy Regulatory Commission (BERC) announced the new price, saying that a 12kg LPG cylinder's price has reduced by Tk161.
A retail consumer will get it now at Tk1,074 instead of Tk1,235 (including VAT).
Prices of other sizes of LPG cylinders - from 5.5kg to 45kg - will go down rationally, Md Nurul Amin, newly appointed chairman of BERC, said at a press briefing at the BERC office in Dhaka on Thursday (1 June).
The new prices will be effective from 6pm today (1 June).
BERC officials said the LPG price witnessed a rise in the local market due to the decrease in the prices of Saudi CP (contract price).
Bangladeshi LPG operators normally import their products from the Middle-East market on the basis of Saudi CP.
As per the BERC decision, the price of "auto gas" (LPG used for motor vehicles) also dropped to Tk50.09 (including VAT) per litre from previous Tk57.52, down by 7.43 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%.
LPG witnessed the highest price at Tk1,498 (per 12kg cylinder) in the local market in February this year following the start of the Russia-Ukraine war in February last year.