Furnace oil price reduced by 16 taka per liter

The price of furnace oil used in boilers and power generation has been reduced by 16 taka per liter at the consumer level. The Bangladesh Energy Regulatory Commission (BERC) announced this information in a press release today (February 22).

The organization said that the price of furnace oil per liter has been fixed at 70 taka 10 paisa, which was previously 86 taka. Accordingly, the price per liter has decreased by 15 taka 90 paisa. BERC said that the new price will be effective from 12 midnight on Sunday.

Earlier, the price of furnace oil was determined by the Bangladesh Petroleum Corporation (BPC), but the interim government gave that power to BERC. For the first time after assuming responsibility, the company announced the price of furnace oil.

The four government oil marketing companies under BPC, Padma, Meghna, Jamuna and Standard Asiatic Oil, will sell furnace oil at the new price. The main buyer of this oil is the government-owned power generation agency, the Power Development Board (PDB).

The last time the price of furnace oil was set was on August 2, 2024. Then the interim government gave the power to set the price to BERC. On January 20 last year, the BPC proposed to BERC to set the price. Then, four oil marketing companies also sent their proposals to BERC. A year later, on January 29, BERC held a public hearing on this proposal.

The BPC and four marketing companies had proposed to set the price of furnace oil at Tk 81 per liter. After reviewing this, the evaluation report of the technical committee formed by BERC proposed to set it at Tk 74.4. However, the main buyer of furnace oil, the PDB, objected to this. In the hearing, they said that the price of furnace oil per liter could be Tk 50.83.