The government on Wednesday said the price of gas has been fixed at a flat rate of Tk 30 per cubic meter for industrial units of all sizes. Earlier, large industrial units had to pay Rs 11.98, medium units Rs 11.78 and small scale industries Rs 10.78.
The price of gas supplied to power plants has been increased from about Rs 9 to Rs 14 per unit.
The Energy and Mineral Resources Division said in a statement that the government decided to increase gas prices as it would need to buy LNG from the spot market at a higher price.
Energy prices have skyrocketed due to volatility in the international market amid the Russia-Ukraine war. The agency said other costs such as insurance and the dollar’s value also pushed up energy prices.
Due to abnormally high subsidies for LNG imports, the government stopped buying LNG from the spot market in July 2022, forcing authorities to ration gas to industries and power producers.
In this situation, the government took opinion from the stakeholders in the areas to ensure supply during irrigation season, upcoming Ramzan and summer.
“As the government will have to import LNG from the spot market at a higher price to meet the increased demand, it has decided to increase the gas prices for power, industries, captive power and commercial connections.”