The Bangladesh Energy Regulatory Commission (BERC) has announced another increase in furnace oil prices. According to a press release issued on Monday, May 18, the price per liter has been raised by Tk 18.85—from Tk 94.69 to Tk 113.54. The new rate will take effect from midnight. The adjustment was approved in a special commission meeting held on May 18, based on the Free on Board (FOB) price of imported refined furnace oil between April 13 and May 12, and changes in the US dollar exchange rate.

Earlier, on April 12, the price had been raised from Tk 70.10 to Tk 94.69 per liter. A committee formed on March 15 had recommended the adjustment after reviewing international Platts rates and exchange rate fluctuations. The commission reviewed these recommendations in special meetings on April 5 and 12 before approving the new rate.

A large portion of imported furnace oil is used in power generation, and stakeholders believe the price hike will increase production costs at oil-based power plants, potentially affecting electricity prices.