Jet fuel price up by 3.3 per cent for October

Business Desk :

The energy regulatory commission has raised the price of jet A-1 fuel, known as aviation fuel, by 3.34 per cent to US$0.6545 per litre for international flights and by 3.33 per cent to Tk 99.29 per litre for domestic flights from the country’s airports for October compared to the previous month’s prices.

Bangladesh Energy Regulatory Commission (BERC) adjusted the jet A-1 fuel price upward considering the average of Platts rates, exchange rate of US dollars and settlement rate of letter of credit (LC) of state-run Bangladesh Petroleum Corporation (BPC), price change of diesel and changes in transport charges of tank lorries and costal tankers, the price has become effective from Wednesday midnight.

With October pricing, the commission has been fixing the jet A-1 fuel price for five consecutive months.
Previously, the BPC would fix the price unilaterally following the instruction from the Energy and Mineral Resources Division (EMRD) under the Ministry of Power, Energy and Mineral Resources (MPEMR).

The BPC usually imports around 600,000 tonnes of jet A-1 fuel annually to meet the demands of both domestic and international flights being operated by local and international airliners.
Some local petrochemical company also produces jet A-1 fuel after refining condensate.
With the hike in jet A-1 price, air ticket prices for both domestic and international-bound passengers might be dearer, market insiders said.