Under the latest revision, the price of Jet A-1 fuel for domestic flights has been reduced from Tk205.45 per litre to Tk165.88 per litre, inclusive of duty and VAT.
Representational image. Photo: Reuters
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Representational image. Photo: Reuters
The Bangladesh Energy Regulatory Commission (BERC) has further reduced jet fuel prices in May following a series of sharp adjustments in recent months, amid fluctuations in the international oil market.
In a press release issued today (23 May), the energy regulator announced a cut of Tk39.57 per litre in aviation fuel prices, with the revised rates taking effect from midnight.
Under the latest revision, the price of Jet A-1 fuel for domestic flights has been reduced from Tk205.45 per litre to Tk165.88 per litre, inclusive of duty and VAT.
For international flights operated by local and foreign airlines, the price has been lowered from $1.3385 per litre to $1.0823 per litre, excluding duty and VAT.
The latest reduction follows another downward adjustment on 7 May, when BERC cut jet fuel prices by Tk22.35 per litre. Before that, the regulator raised prices by nearly Tk25 per litre on 7 April, while on 24 March aviation fuel prices saw a steep hike of around Tk90 per litre.
According to the commission, jet fuel prices are revised monthly under a market-based pricing mechanism linked to international benchmark rates.
The regulator said the revised prices were determined based on the average Platts rate of Jet A-1 fuel between 5 May and 21 May, the US dollar exchange rate used in BPC’s LC settlement process, and prevailing diesel prices in the domestic market.
BERC also considered changes in coastal tanker and pipeline transportation charges before finalising the new rates.
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