The price has been hiked only to adjust the huge losses of state-run Petrobangla.
SEATTLE (Oil Monster): The state-run Bangladesh Energy Regulatory Commission (BERC) on Sunday raised natural gas prices by 32.8% on average for all users effective from July 1, the first day of country’s fiscal year, the head of the Commission said.
“The price has been hiked only to adjust the huge losses of state-run Petrobangla,” said Monwar Islam, the chairman of the Commission.
Petrobangla is incurring losses of about $235 million a month as it currently imports liquefied natural gas from the international market and sells it onto the domestic market at a loss, an official said.
BERC last raised natural gas prices by 11% in 2017.
Business leaders said with this price hike the industry will lose its competitiveness in the international market.
“This huge price hike is a stops us boosting our output and also it will give us strong competition in the international market,” said Anwarul Alam Chowdhury, the President of the Bangladesh Chambers of Industry.
Courtesy: www.reuters.com
| United States Crude Oil Prices | |||
|---|---|---|---|
| COMMODITY | PRICE | CHANGE | |
| Alabama Heavy Asphaltic Sour | 64.94 | -1.73 | |
| Alabama Light Sour | 72.16 | -1.92 | |
| Alabama Light Sour Womack Hill Type | 55.28 | +5.30 | |
| Alabama Light Sweet | 77.16 | -1.92 | |
| Alabama/ Florida Panhandle | 72.22 | -3.60 | |
Plastic Keychain Magnet
Keychain Magnets as gift items to promote your Scrap Metal Recycling business!. Letters and numbers can be imprinted. Available Colors: Red, Blue and Green
$2.59
Scrap Metal Test Magnet 10 lb N52 Neodymium Rare Earth
Retrieval and Metal Testing Magnet. Contains The Most Powerful Grade of Neodymium Rare Earth Magnet (N52). Case Material: Aluminum
$9.99