The December Liquefied Petroleum Gas (LPG) price will be announced by the Bangladesh Energy Regulatory Commission (BERC). Whether consumers can anticipate a rise or fall in LPG prices in the coming month will be decided by this news. The Saudi Contract Price (CP) for December 2024, as announced by Saudi Aramco, will serve as the basis for the revised pricing.
In November, the price of a 12kg LPG cylinder was reduced by Taka 1, bringing the cost down to Taka 1,455. This decrease followed a series of price hikes in the months of July through October. Similarly, auto gas prices were adjusted, with a minor reduction of Taka 0.03 per litre in November, resulting in a new rate of Taka 66.81, including VAT. The trend for auto gas also mirrored that of LPG, with a pattern of price increases from July to October after prior reductions.
In 2023, LPG and auto gas prices have been revised a total of 12 times, with five reductions and seven increases. Price decreases were recorded in January, March, April, June, and July, while increases occurred in February, May, August, September, October, November, and the upcoming December.
The fluctuations in LPG prices are not just a household concern; they also hold significant implications for the Ready-Made Garment (RMG) sector, which relies heavily on LPG for various production processes. An increase in LPG prices could elevate operational costs for RMG manufacturers, potentially leading to higher prices for garments and impacting overall profitability. Conversely, a reduction in LPG prices may provide some relief, allowing manufacturers to manage costs more effectively.
