Bangladesh raises LPG and CNG prices by 29% as Mideast conflict worsens energy crunch, prompting government austerity measures and a search for loans.

DHAKA: Bangladesh has increased prices for liquefied petroleum gas and compressed natural gas by 29%.

The Bangladesh Energy Regulatory Commission announced the hike on Thursday, citing the worsening energy crunch from the Middle East war.

A standard 12-kilogramme LPG canister will now cost 1,728 taka, up from 1,341 taka.

The price of compressed natural gas used in vehicles will rise by the same percentage.

The South Asian nation imports 95% of its oil and gas needs.

In response to the crisis, the government has already implemented several fuel-saving measures.

These include limiting fuel purchases, halting most fertiliser factory production, and deploying police at filling stations.

The Ministry of Public Administration also issued orders on Sunday regarding office attendance and saving electricity.

Bangladesh is seeking loans of around $2 billion from multilateral donors to address its energy worries.

 The Sun Malaysia