The price of jet fuel in Bangladesh has been reduced by Tk39.57 per litre, with the new rates taking effect from midnight on Saturday.
The announcement was made by the Bangladesh Energy Regulatory Commission (BERC) in a statement issued on Saturday.
The latest reduction follows a cut of Tk22.35 per litre on 7 May. Prior to that, jet fuel prices were increased by nearly Tk25 per litre on 7 April, following a sharp rise of Tk90 per litre on 24 March.
Under the revised rates, the price of jet fuel for domestic flights has been lowered from Tk205.45 to Tk165.88 per litre.
Fuel prices for international flights have also been reduced. The price of jet fuel has been cut from $1.3385 per litre to $1.0823 per litre.
BERC said a hearing on the pricing adjustment was held on 23 May.
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 5 May and 21 May, the US dollar exchange rate used in settlement of letters of credit by the Bangladesh Petroleum Corporation (BPC), and the existing price of diesel.