The Bangladesh Energy Regulatory Commission (BERC) has increased the price of liquefied petroleum gas (LPG). The BERC on Sunday announced the new prices for the month of October. The price of a 12 kg LPG cylinder has been increased by Tk 252 to Tk 1,837. The new prices will come into effect from Sunday.
Meanwhile, reports of two intelligence agencies have revealed that some operatoTk are trying to make huge profits by creating an artificial crisis of LPG in the market. A meeting was held with the leadeTk of the LPG OperatoTk Association of Bangladesh (LOTAB) at the Ministry of Energy on Saturday.
The meeting was held at the Secretariat to discuss the stock and market situation of LPG. Citing data from various agencies and the National Board of Revenue (NBR), it is said that LPG has been imported according to the demand in the country. Then an explanation was sought from the LOTAB leadeTk as to why there is a crisis in the market and why LPG is being sold at a higher price.
However, Lotab leadeTk denied the allegations and said that if the price of LPG is increased, some stability can be restored in the market. They claim that the price of LPG in the international market has increased significantly.
A peTkon present at the meeting, on condition of anonymity, said the operatoTk had been in favour of increasing the price of LPG since Sunday. They also think that if the price is increased, it will be easier for them to import. In this regard, it was also alleged that the BERC is not increasing the price as per their demand.
According to sources, there has been a shortage of LPG in the market since September 22. The 12 kg cylinder fixed by the government for Tk 1,585 is being sold up to Tk 2,500 in some places.
Due to the war situation in the Middle East and the increase in ship rentals, the cost of importing LPG in the international market has increased slightly. However, there are allegations that some operatoTk have stockpiled LPG on this occasion.
According to government intelligence agencies, some operatoTk have already stored LPG in their tankeTk. Some of them had stationed LPG ships near the Bay of Bengal border before September 30, the report said.
Financial Mirror/AH
