Dhaka, Feb. 22 -- The Bangladesh Energy Regulatory Commission (BERC) on Sunday reduced the retail price of furnace oil supplied by the Bangladesh Petroleum Corporation (BPC) by Tk 15.90 per litre, effective from midnight.

Under the new rate, furnace oil will be sold at Tk 70.10 per litre, down from the previous price of Tk 86 per litre, according to a BERC media release.

The commission said the price was re-fixed in line with Sections 34(4) and 34(6) of the Bangladesh Energy Regulatory Commission Act, 2003.

BERC noted that BPC had submitted a proposal on January 20, 2024 seeking a revision of furnace oil prices. Subsequently, state-run oil marketing companies also proposed increases in their marketing and composite transportation charg...