The Bangladesh Energy Regulatory Commission on Wednesday raised the price of furnace oil by Tk 11.92 a litre for October, an increase of more than 12 per cent from the previous month.
The price has been fixed at Tk 108.78 a litre for October, up from Tk 96.86 in September. The new rate will take effect at 12:00am on Thursday.
The commission approved the revised rate at a special meeting on Wednesday following proposals from the Bangladesh Petroleum Corporation and oil marketing companies, according to a BERC press release.
BERC said the adjustment took into account the revised Platts rate for imported furnace oil between July 29 and August 28, the CIF price of crude oil for September and fluctuations in the US dollar exchange rate.
With natural gas supplies remaining far below demand, power plants are increasingly relying on furnace oil-fired units to meet peak-hour electricity demand.
Meanwhile, the government has kept the retail prices of other key fuels unchanged for October, retaining the rates fixed on September 20.
Diesel will continue to sell at Tk 135 a litre, octane at Tk 165, petrol at Tk 160 and kerosene at Tk 155 at the consumer level, according to a notice issued by the Energy and Mineral Resources Division on Wednesday.
