Dhaka: The Bangladesh Energy Regulatory Commission (BERC) has announced an adjustment to the consumer-level price of furnace oil, setting the new rate at Tk 94.69 per litre. This adjustment, which comes into effect from midnight, will remain until further notice, as detailed in a notification signed by BERC Secretary Md. Nazrul Islam Sarkar.
According to Bangladesh Sangbad Sangstha, the price adjustment was executed under the provisions of sections 22(b) and 34 of the Bangladesh Energy Regulatory Commission Act, 2003. The decision followed a proposal submitted by the Bangladesh Petroleum Corporation (BPC) in February, which sought a revision of the existing rates. Subsequent proposals were also submitted by Meghna Petroleum Limited (MPL), Standard Asiatic Oil Company Limited (SAOCL), Jamuna Oil Company Limited (JOCL), and Padma Oil Company Limited (POCL) concerning marketing and transportation charges.
The proposals were thoroughly reviewed by a committee formed on March 15, which recommended an adjustment after evaluating the average published Platts rate of refined furnace oil in March and the fluctuations in the US dollar exchange rate. The final rate was decided upon during special commission meetings held on April 5 and April 12.
The revised furnace oil rate impacts various sectors as BPC supplies it to the Bangladesh Power Development Board (BPDB), government and private power plants, as well as industrial units. Prior to this adjustment, the consumer-level price stood at Tk 70.10 per litre. The authority to set these prices was granted to BERC through a government notification following the interim government’s assumption of office.