BERC raises furnace oil price by Tk24.59 per litre
According to the release, a directive issued on 22 February allows furnace oil prices to be revised every three months or as necessary
The Bangladesh Energy Regulatory Commission (BERC) has increased the price of furnace oil (HFO) by Tk24.59 per litre, setting the new rate at Tk94.69 from the previous Tk70.10.
The revised price will come into effect from midnight today, according to a press release issued by the regulator.
BERC said the adjustment was made in line with Sections 34(4) and 34(6) of the BERC Act, 2003, following a public hearing and a detailed review of proposals submitted by the Bangladesh Petroleum Corporation (BPC) and oil marketing companies.
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According to the release, a directive issued on 22 February allows furnace oil prices to be revised every three months or as necessary.
The latest adjustment was determined based on the average international price of refined furnace oil and the exchange rate of the US dollar. BERC noted that no crude oil imports were made in March this year, which also factored into the pricing decision.
To support the revision process, a committee formed on 15 March analysed price trends using the Platts index alongside prevailing exchange rates for the month. The committee later recommended the revised price for April.
