Furnace oil price increased by 24 taka 59 paisa per liter

The Bangladesh Energy Regulatory Commission (BERC) has increased the price of furnace oil used in power generation by 24 taka 59 paisa per liter. The new price of furnace oil has increased from 70 taka 10 paisa per liter to 94 taka 69 paisa. This information was given in a notification sent by BERC today, Sunday (April 12). The new price will be effective from 12 midnight today.
Earlier, the price of furnace oil was determined by Bangladesh Petroleum Corporation (BPC). However, after the interim government transferred that power to BERC, the company announced the price of furnace oil for the first time in February last year. Today is the second time the price has been adjusted.
Four state-owned oil marketing companies under the BPC—Padma, Meghna, Jamuna and Standard Asiatic Oil—will sell furnace oil at the new price. The main buyer of this oil is the state-owned power generation company, the Power Development Board (PDB). The price of furnace oil was last fixed by a government executive order on August 2, 2024. The interim government then gave the power to fix the price to BERC. On January 20 last year, BPC submitted a proposal to BERC to fix the price. Four other oil marketing companies then sent proposals to BERC. A year later, on January 29, BERC held a public hearing on the proposal.