The price of jet fuel in Bangladesh has been reduced by Tk 39.57 per litre, with the new rates taking effect from this midnight.

The Bangladesh Energy Regulatory Commission (BERC) announced the decision in a statement issued today.

The latest adjustment follows a previous cut of Tk 22.35 per litre on May 7.

Prior to that, jet fuel prices were increased by nearly Tk 25 per litre on 7 April, following a sharp rise of Tk 90 per litre on March 24.

Under the revised rates, the price of jet fuel for domestic flights has been lowered to Tk 165.88 per litre from Tk 205.45.

Fuel prices for international flights have also been reduced, falling to $1.0823 per litre from $1.3385.

According to BERC, a hearing on the pricing adjustment was held on May 23.

Following a review, the commission decided to revise mid-May prices for Jet A-1 fuel based on the average Platts benchmark rate in the international market between May 5 and May 21, the US dollar exchange rate used in settlement of letters of credit by the Bangladesh Petroleum Corporation (BPC), and the existing price of diesel.