Bangladesh lowers furnace oil prices to reduce power generation costs
Photo Collected
Bangladesh has reduced the price of furnace oil used in power generation by 8.71 taka per liter, a move expected to lower the operational costs of oil-fired power plants. The new rate, which takes effect at midnight Thursday, brings the price down to 100.39 taka per liter from the previous 109.10 taka.
The Bangladesh Energy Regulatory Commission (BERC) announced the adjustment following a special meeting held on July 30. According to the commission, the revised pricing reflects international import costs incurred between June 30 and July 28, alongside the prevailing exchange rate of the taka against the U.S. dollar. This marks the second consecutive reduction in recent months, following a decrease from 113.54 taka to 109.10 taka in the previous month.
The updated price will be implemented by the four state-owned oil marketing companies operating under the Bangladesh Petroleum Corporation: Padma, Meghna, Jamuna, and Standard Asiatic Oil. The primary consumer of this fuel remains the state-run Bangladesh Power Development Board.
This adjustment is the fifth of its kind since the interim government transferred the authority to set fuel prices from the Bangladesh Petroleum Corporation to the BERC. The commission assumed this regulatory responsibility in February, following a prolonged process that included a public hearing in January to review pricing proposals submitted by various marketing entities.
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