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Dhaka: The Bangladesh Energy Regulatory Commission (BERC) has announced a significant reduction in jet fuel prices for both domestic and international airlines, effective from midnight on May 8.
According to a notification issued by the regulator on Wednesday, the price of Jet A-1 fuel for domestic carriers has been cut by BDT 21.63 per litre. The new rate has been fixed at BDT 205.45 per litre, down from the previous BDT 227.08.
For international airlines, the price has been reduced by USD 0.1421 per litre, bringing the new rate to USD 1.3385 from USD 1.4806.
BERC said the adjustment was made after reviewing the average Platts fuel price between April 5 and May 4 in the international market.
The commission introduced a monthly jet fuel price adjustment system in May last year to align local rates with global market trends. Under the mechanism, fuel prices are revised upward or downward depending on international price movements.
Before the introduction of this system, the Bangladesh Petroleum Corporation (BPC) used to set jet fuel prices periodically.
The latest decision was finalised following a public hearing conducted under the Bangladesh Energy Regulatory Commission Act, 2003.
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