Commerce minister vows tighter LPG market monitoring

Commerce Minister Khandaker Abdul Muktadir today said the government will strengthen monitoring of the liquefied petroleum gas (LPG) market through local administrations to ensure that consumers do not face harassment and that no one engages in market abuse at the retail level.

Quoting media reports, he said there have been concerns about a possible supply gap in the LPG market, which indicates that the government-fixed price of a 12kg LPG cylinder, set at Tk 1,356, was being exceeded in some retail outlets.

The minister made the remarks while speaking to journalists after a meeting with representatives of LPG importers and suppliers in the conference room of the commerce ministry at the Secretariat.

The meeting discussed the prevailing situation regarding the market price and supply of LPG, according to a commerce ministry press release.

The minister said the price of the LPG cylinder will return to the previous rate, as in some places retailers increased prices by taking advantage of higher demand for a certain period.

“The government will protect consumers from suffering harassment or market abuse by improving the monitoring of the LPG market through local administrations,” he said.

The minister also said the importers have presented certain arguments regarding pricing at the import stage, suggesting a price review to keep their businesses operational.