CNG price to skyrocket by December

[CaPtAiN_pLaNeT]

Wednesday, November 9, 2011
CNG price to skyrocket by December

CNG price to skyrocket by December

Star Online Report

The government is going to increase the price of CNG (compressed natural gas) by December.

The price of CNG will be quite on a par with that of diesel, Finance Minister AMA Muhith told reporters at his secretariat office Wednesday.

Without specifying any date, he said the increase will take place within this year.

Following earlier price hikes of almost 50 percent on May 12 and 5 percent on September 19, the price of CNG is now Tk 30 per cubic metre.

Earlier on September 18, the government hiked fuel prices by a maximum of 19.04 percent a litre on to reduce subsidy on imports of petroleum products. As per the new rates, the price of per litre diesel is Tk 51, petrol Tk 81, octane Tk 84, kerosene Tk 51 and furnace oil Tk 50.

The minister said general people do not benefit from vehicles’ conversion into CNG as the fares of CNG and fuel-driven vehicles are almost same.

The owners of those vehicles enjoy the full benefit, he added.

Responding to a question about fuel price, Muhith said his ministry had directed the energy ministry to prepare a proposal for introducing ‘automatic formula’ for fixing fuel price.

As per the formula, the prices of petroleum products will be increased and decreased in line with the global market.

 

[Maira La]

Sami, as the news article states,

As per the formula, the prices of petroleum products will be increased and decreased in line with the global market.

the prices will keep fluctuating, but it has no significance with regards to BD Defence. It's just another news article.

No offense, but I think beyond defence, we should limit ourselves to international relations and grand conspiracy theories only.

 

[Zabaniyah]

I paid Tk. 1000 for octane today. The meter only moved up a few points "><

Octane is damn expensive.

CNG is the cheapest option. But will limit the vehicle's engine performance.

 

[Roybot]

I paid Tk. 1000 for octane today. The meter only moved up a few points "><

Octane is damn expensive.

CNG is the cheapest option. But will limit the vehicle's engine performance.

Is octane like premium petrol?

 

[Zabaniyah]

Is octane like premium petrol?

Nope.

5465434

 

[CaPtAiN_pLaNeT]

Sami, as the news article states,

the prices will keep fluctuating, but it has no significance with regards to BD Defence. It's just another news article.

No offense, but I think beyond defence, we should limit ourselves to international relations and grand conspiracy theories only.

You are most welcome to open up some threads based on your category "international relations and grand conspiracy theories" instead of coming and just passing free advise. This also applies to the people those who do not contribute anything other then passing one or 2 line comment and pass big advises and opinion. No offense.

 

[kobiraaz]

Lets follow Vietnam. Lets buy cycle.... It will save money and environment as well as precious time and will keep you fit.

 

[CaPtAiN_pLaNeT]

'BERC, not FM, lawful body to fix CNG price'

'BERC, not FM, lawful body to fix CNG price'

Bangladesh CNG Association in a statement on Thursday termed the statement of Finance Minister AMA Muhith on CNG price hike as "unlawful, unrestrained and beyond his jurisdiction", reports UNB.

The statement, signed by secretary general of the association Zakir Hossain Nayon, strongly protested the finance minister's move to hike the CNG price again this year, saying that the price was upped twice in this year.

It said the issue of fixing CNG price is in the absolute jurisdiction of Bangladesh Energy Regulatory Commission (BERC).

As per BERC Act 2003, if there is any necessity to raise the CNG price, the concerned authority shall submit a proposal about this to the BERC and then the BERC would hold a public hearing to review the proposal.

If the CNG price hike proposal is found to be justified during the hearing then the BERC would raise the price in a rational way.

"The finance minister has no jurisdiction to speak about the issue of CNG price," the statement said.

The association, representing CNG stations owners and conversion plants, mentioned that the price of CNG was raised by 50 per cent on May 12 this year and again 20 per cent four months later on September 19.

They warned that if the CNG price is raised again within 6 months of the last price hike, the CNG Association will launch tough movement along with other stakeholders and the government will be responsible for any consequence.

---------- Post added at 12:26 PM ---------- Previous post was at 12:24 PM ----------

Govt raises fuel prices from mid night today

Govt raises fuel prices | | bdnews24.com

Thu, Nov 10th, 2011 11:28 pm BdST

Dial 2000 from your GP mobile for latest news
Dhaka, Nov 10 (bdnews24.com) &#8212; The government has raised the prices of octane, diesel, petrol, kerosene and furnace oil by Tk 5 per litre.

According to a government circular, the prices will become effective from Thursday midnight.

Following the raise, the price of diesel will be Tk 56, kerosene Tk 56, octane Tk 89, petrol Tk 86 and furnace oil Tk 55.

This is the third price hike of fuel prices in six months.

The last price hike of Sep 18 saw price of furnace oil go up by Tk 8 per litre. It was Tk 5 for other kinds of fuel &#8212; kerosene, diesel, petrol and octane. This time however, all kinds of fuel saw the same hike.

That round of price hike was preceded by another one on May 5.

One of the reasons for the price hike was to prevent losses of the Bangladesh Petroleum Corporation (BPC) due to hefty subsidies, said the circular.

Even so, the government would have to subsidise every litre of diesel, kerosene and furnace oil by Tk 16.39, Tk 16.31 and Tk 4.97 respectively.

Another reason that the circular cited was that in Kolkata, capital of the neighbouring Indian state of Paschimbanga, diesel sells for Tk 70 and petrol for Tk 117. "The price difference naturally leads to a risk of smuggling."

The circular said BPC had lost Tk 82 billion in the last fiscal due to the subsidies. The losses were further exacerbated by the fact that fuel demand had increased from 4.8 million tonnes to 6.8 million.

"It would impossible for the government to keep subsidising fuel at the prevailing prices."

Given the losses, the government would have to borrow more heavily on banks. "Besides, excessive government bank borrowing will hamper private sector investment," the circular noted.

bdnews24.com/sh/ta/2345h

 

[Maira La]

You are most welcome to open up some threads based on your category "international relations and grand conspiracy theories" instead of coming and just passing free advise. This also applies to the people those who do not contribute anything other then passing one or 2 line comment and pass big advises and opinion. No offense.

Your advice is taken and your enthusiasm about our country's development is appreciated. However, some of the threads you open do not generate a lot of argument (being everyday news articles), which is what we want right? We want people to argue and fight! And then when you visit and look at the BD section, you have to filter numerous posts to find the ones you're looking for. But that's just my personal suggestion - maybe other people don't face this problem.

 

[wild_fire1979]

Wednesday, November 9, 2011
CNG price to skyrocket by December

CNG price to skyrocket by December

Star Online Report

The government is going to increase the price of CNG (compressed natural gas) by December.

The price of CNG will be quite on a par with that of diesel, Finance Minister AMA Muhith told reporters at his secretariat office Wednesday.

Without specifying any date, he said the increase will take place within this year.

Following earlier price hikes of almost 50 percent on May 12 and 5 percent on September 19, the price of CNG is now Tk 30 per cubic metre.

Earlier on September 18, the government hiked fuel prices by a maximum of 19.04 percent a litre on to reduce subsidy on imports of petroleum products. As per the new rates, the price of per litre diesel is Tk 51, petrol Tk 81, octane Tk 84, kerosene Tk 51 and furnace oil Tk 50.

The minister said general people do not benefit from vehicles&#8217; conversion into CNG as the fares of CNG and fuel-driven vehicles are almost same.

The owners of those vehicles enjoy the full benefit, he added.

Responding to a question about fuel price, Muhith said his ministry had directed the energy ministry to prepare a proposal for introducing &#8216;automatic formula&#8217; for fixing fuel price.

As per the formula, the prices of petroleum products will be increased and decreased in line with the global market.

***sigh****

Now what did those Indian dalaal stooges do to make this happen?

 

[InFn-0]

Govt does not have an option here, infact we should all laud this move by AL to increase the fuel prices which is against its popularistic politics tendency. More we delay this, the worse our economy will become as the subsidy is too hard to bear for the govt and also the private sector banks.

 

[Arko]

'BERC, not FM, lawful body to fix CNG price'

'BERC, not FM, lawful body to fix CNG price'

Bangladesh CNG Association in a statement on Thursday termed the statement of Finance Minister AMA Muhith on CNG price hike as "unlawful, unrestrained and beyond his jurisdiction", reports UNB.

The statement, signed by secretary general of the association Zakir Hossain Nayon, strongly protested the finance minister's move to hike the CNG price again this year, saying that the price was upped twice in this year.

It said the issue of fixing CNG price is in the absolute jurisdiction of Bangladesh Energy Regulatory Commission (BERC).

As per BERC Act 2003, if there is any necessity to raise the CNG price, the concerned authority shall submit a proposal about this to the BERC and then the BERC would hold a public hearing to review the proposal.

If the CNG price hike proposal is found to be justified during the hearing then the BERC would raise the price in a rational way.

"The finance minister has no jurisdiction to speak about the issue of CNG price," the statement said.

The association, representing CNG stations owners and conversion plants, mentioned that the price of CNG was raised by 50 per cent on May 12 this year and again 20 per cent four months later on September 19.

They warned that if the CNG price is raised again within 6 months of the last price hike, the CNG Association will launch tough movement along with other stakeholders and the government will be responsible for any consequence.


bdnews24.com/sh/ta/2345h

It perhaps will not be possible. The Finance Ministry controls the allocation of subsidy. If it does not provide the subsidy, how will BERC maintain the price ???

One way or the other, it will be upto the Finance Ministry to change the price.

Hope more money is allocated to the local oil exploration companies. Bapex needs real attention now. We should not rely upon foreign companies year after year.

 

[Patriot]

Still very cheap in Bangladesh.Now the price difference between Petrol and CNG in Pakistan is just few RS hence low sales for CNG cars.Much better to drive on Petrol (Unless you travel A LOT in which case CNG will save you few thousand bucks).