Price of liquified petroleum gas (LPG) has declined by Tk 2.91 per kg as the Bangladesh Energy Regulatory Commission (BERC) on Sunday announced the new value of the petroleum gas for the month of October.

As per the new price, a retail consumer will get a 12-kg LPG cylinder at Tk 1200 instead of previous price of Tk 1,235.

The prices of LPG for other sizes of cylinders from 5.5 kg to 45 kg will come down rationally, said BERC chairman Abdul Jalil, who announced the new price at a virtual press briefing on Sunday.

As per the announcement, the price of auto gas (LPG used for motor vehicles) was reduced to 55.92 per litre from previous price of Tk 57.55 per litre, down by Tk 1.63 per litre.

The new price will be effective from 6 pm on Sunday (October 2).

Jalil informed that the US Dollar rate was considered at Tk 106.64 in refixing the price of the LPG as private operators import it from Middle East through foreign currency.

He said though the LPG price has substantially come down in the global market, consumers are not getting full advantage of the downward trend due to the high dollar price in the local market.

Last month, the dollar exchange rate was considered Tk104.02

The price of LPG, marketed by state-owned LP Gas Company, will remain as usual as it is locally produced with a market share of less than 5%.

The LPG price went up to the highest Tk1,439 (a 12kg cylinder) in the local market, following the start of the Russia-Ukraine war in February this year.

The LPG price was the lowest at Tk1,225 for a 12kg cylinder in January this year and it witnessed continuous hikes in February, March and April.