Furnace oil price rises Tk11.92 to Tk108.78 per litre
The revised rate was set after BERC reviewed imported furnace oil prices and the dollar-taka exchange rate for 29 August to 28 September.
The Bangladesh Energy Regulatory Commission (BERC) has raised the price of furnace oil by Tk11.92 per litre to Tk108.78.
The new price, up 12.30% from the previous Tk96.86 per litre, will take effect from 12am, according to a BERC notice issued today (30 September).
The increase comes after the commission cut the price for two consecutive months. On 30 June, BERC reduced the price from Tk113.54 to Tk109.10 per litre. It then cut the price further to Tk96.86 over the following two months before raising it by Tk11.92 this month.
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BERC said the latest price was adjusted at a special commission meeting held today, taking into account the price of imported furnace oil and the dollar-taka exchange rate during the period from 29 August to 28 September.
The revised rate will apply to furnace oil sold by four BPC-owned oil marketing companies -- Padma Oil, Meghna Petroleum, Jamuna Oil and Standard Asiatic Oil. The main buyer of the fuel is the Bangladesh Power Development Board (PDB).
Previously, furnace oil prices were determined by Bangladesh Petroleum Corporation (BPC).
After the interim government took office, the authority to determine the prices of furnace oil and Jet A-1 was handed to BERC through a gazette notification issued on 15 September 2024. Following a public hearing in January, the commission fixed the price of furnace oil for the first time on 22 February.
Since then, BERC has been announcing a new price every month by adjusting it in line with international market prices.
Furnace oil is a heavy petroleum-based fuel used mainly in power generation, industrial boilers and furnaces. Because heavier fuel oils are highly viscous, they may need to be heated to make them easier to pump and burn.
