The price of furnace oil increased by 24 taka 59 paisa per liter

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The price of furnace oil used in power generation has been increased by 24 taka 59 paisa per liter. It will increase the cost of power generation. The new price per liter has increased from 70 taka 10 paisa to 94 taka 69 paisa. The new prices will be effective from 12:00 PM on Sunday. Earlier last February, the price fell by 16 rupees.

Today, a notification sent by Bangladesh Energy Regulatory Commission (BERC) has informed about increasing the price of furnace oil.

Earlier, the price of furnace oil was fixed by Bangladesh Petroleum Corporation (BPC). But the agency announced furnace oil prices for the first time in February after the interim government handed over that power to BERC. Today, the price has been adjusted for the second time.

The four government oil marketing companies under BPC — Padma, Meghna, Yamuna and Standard Asiatic Oil — will sell furnace oil at the new price. The main buyer of this oil is the state power generation company Power Development Board (PDB).

Furnace oil prices were last fixed on August 2, 2024 by the government’s executive order. The interim government then handed over price fixing powers to BERC. On January 20 last year, BPC proposed to BERC to fix the price. Four oil marketing companies also sent proposals to BERC. After one year, BERC held a public hearing on this proposal on January 29.