Jet fuel price down BDT 17.43 per liter

Dhaka: The price of jet fuel for domestic and international airlines has reduced by the Bangladesh Energy Regulatory Commission (BERC), effective May 14.

For domestic airlines, the price of jet fuel has been decreased by BDT 17.43 per liter from BDT 111 to BDT 93.57. For international carriers, the price has been reduced by USD 0.1434 per liter from USD 0.7500 to USD 0.6066.

The Bangladesh Petroleum Corporation (BPC) has also revised its storage and sale charge to BDT 4.04 per liter. Padma Oil Company, the exclusive distributor of jet fuel to airlines, readjusted the sale charge to BDT 0.88 per liter too.

The latest revisions follow a proposal submitted by BPC on February 18 to readjust jet fuel prices. BERC subsequently held a public hearing on March 23 to evaluate the proposal.

Recently, private firm Pertex Petroleum entered the market as the country's first local jet fuel producer. The company is expected to produce 2,800 barrels of jet fuel per day.

According to the airlines, the country has a daily demand of 9,000 barrels of jet fuel.

Around 40-50 percent of the cost of airlines are due to jet fuel, said airline representatives.