The Bangladesh Energy Regulatory Commission (BERC) on Sunday fixed the price of Jet A-1 aviation fuel at Tk 159.52 per litre for domestic airlines and US$1.0358 per litre for international carriers.

The new prices will take effect from midnight on August 9, according to a circular issued by the regulatory commission.

BERC Secretary Md Nazrul Islam Sarkar signed the circular following a public hearing held on Sunday on a proposal submitted by Bangladesh Petroleum Corporation (BPC) and Padma Oil Company Ltd (POCL).

The commission reviewed Jet A-1 prices based on international Platts rates for the period from July 5 to August 4, along with the US dollar exchange rate applied in BPC’s letter of credit (LC) settlements.

A BERC committee formed to review and adjust Jet A-1 prices on a monthly basis also submitted its report for August, taking into consideration international Platts rates, exchange-rate movements and changes in transportation costs.

The commission subsequently adjusted the aviation fuel prices for the month based on the committee’s recommendations and the relevant cost factors.