Dhaka, April 12 -- The price of furnace oil has been increased from Tk 70.10 to Tk 94.69 per liter, marking a rise of Tk 24.59 per liter.

The Bangladesh Energy Regulatory Commission (BERC) set the new price on Sunday.

Furnace oil is commonly used in power generation, and this increase is expected to raise the cost of electricity production. At the same time, there are concerns that expenses in the industrial sector and other large energy-dependent establishments will also increase.

In a press release, BERC stated that the decision was made after a public hearing and thorough review, based on proposals from the Bangladesh Petroleum Corporation (BPC) and oil marketing companies.

The statement further mentioned that, according to the ord...