Furnace oil price raised by Tk 24.59 per litre

The Bangladesh Energy Regulatory Commission (BERC) has increased the price of furnace oil (HFO) by Tk 24.59 per litre, or from Tk70.10 to  Tk 94.69 on Sunday.

BERC said the price will come into effect from midnight on Sunday.

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) andoil marketing companies.

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, BERC said.