The price of furnace oil has been increased by Tk 11.92 per liter by the Bangladesh Energy Regulatory Commission (BERC). The new price has been set at Tk 108.78 per liter, up from Tk 96.86.

BERC issued an order announcing the new price on Wednesday (September 30). According to the order, the new rate will come into effect after midnight.

Around 2 million tonnes of furnace oil are used annually for electricity generation in Bangladesh. BERC regularly adjusts the price of the fuel in line with international market prices.

The price had been reduced for three consecutive months before the latest increase. On June 30, the price was cut from Tk 113.54 to Tk 109.10 per liter. It was subsequently reduced in two more rounds, bringing it down to Tk 96.86 per liter.

After the interim government took office, a notification issued on September 15 assigned BERC the authority to determine the prices of furnace oil and Jet A-1 fuel. Following a public hearing in January, BERC set the price of furnace oil for the first time on February 22.

Since then, the commission has continued to adjust the price of furnace oil every month in line with international market prices.