Dhaka, July 2 -- Bangladesh has sharply reduced the price of liquefied petroleum gas (LPG) for July, cutting the retail price of a 12kg cylinder by Tk 357.

The new price has been fixed at Tk 1,528, while the revised rates take effect from 6 pm on Thursday, reports bdnews24.com.

On Thursday, Bangladesh Energy Regulatory Commission (BERC) Chairman Jalal Ahmed announced the new prices.

He said the retail price of private-sector LPG for July has been fixed at Tk 127.30 per kg, including value added tax (VAT).

Auto gas prices have also been brought down, falling from Tk 86.93 to Tk 70.40 per litre.

The previous price for a 12kg cylinder in June was Tk 1,885.

The BERC said the July rate was calculated based on Saudi Aramco's contract pric...