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Announcement of gas price hike ‘this week’

A fresh hike in gas prices is likely to be announced this week, said an official of Bangladesh Energy Regulatory Commission (BERC).

The increased prices will come into effect from next month, he added.

Due to high import cost of liquefied natural gas (LNG), the BERC is all set to hike gas prices.

However, residential and commercial consumers will be spared from paying higher prices. The upward price revision will affect industrial consumers, power plants, fertilizer factories, captive power plants, and CNG refueling stations.

The move comes at a time when the government started supplying high-cost imported LNG in national gas network to supplement to locally produced gas since August this year. Per unit (thousand cubic feet or mcf) LNG costs US$11 as against locally produced gas price of only US$ 2.9 per unit.

Official sources in BERC said that after examining all the pros and cons of the gas price hike proposals placed by different government entities, the regulatory body is now fully prepared to announce its decision anytime.

Officials said currently 300 mmcfd gas is being supplied from LNG and it will go up to 500 mmcfd in a month or two and then 1000 mmcfd gas will be flowed from next year as per a government plan.

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