Bangladesh Regulator Cuts Furnace Oil Price by 4.44 Taka per Liter
Photo Collected
Bangladesh has reduced the price of furnace oil used in electricity generation by 4.44 taka per liter, a move expected to lower the operational costs of oil-fired power plants. Effective from midnight on Tuesday, the new price is set at 109.10 taka per liter, down from 113.54 taka.
The Bangladesh Energy Regulatory Commission (BERC) announced the adjustment in a notification, stating that the price was determined based on the import costs of furnace oil from May 13 to June 29 and the prevailing exchange rate of the taka against the U.S. dollar. This decision follows a special commission meeting held on June 30.
This marks the fourth time the BERC has adjusted furnace oil prices since the interim government transferred the authority to set fuel rates from the Bangladesh Petroleum Corporation (BPC) to the regulatory body in February. Prior to this reduction, the price had risen by 18.85 taka per liter last month.
Under the new directives, four state-owned oil marketing companies—Padma, Meghna, Jamuna, and Standard Asiatic Oil—will supply the fuel at the revised rate. The Bangladesh Power Development Board (PDB) remains the primary consumer of the product for its electricity generation facilities.
The transition of pricing authority to the BERC follows a long regulatory process. After the government moved to empower the commission, the BERC conducted public hearings on the price adjustment proposals submitted by the BPC and the four marketing companies earlier this year. This latest adjustment reflects the commission’s ongoing mandate to monitor market fluctuations and stabilize energy costs.
0%
0%
0%
0%
