Dhaka: Power and Energy Minister Iqbal Hassan Mahmud today assured parliament that the government is actively seeking all possible sources to maintain a normal supply of all types of fuel in the country, despite ongoing instability in the global fuel supply.
According to Bangladesh Sangbad Sangstha, the minister addressed the parliament, responding to a query from ruling party lawmaker Md. Shawkatul Islam regarding urgent public matters. He emphasized that there is an adequate supply of all types of fuel oil in the country. The minister also discussed the legal framework governing fuel price adjustments, stating that prices are reviewed monthly and any necessary changes will be discussed with the cabinet.
The minister highlighted that geopolitical instability in the Middle East has disrupted the global energy supply, particularly due to restrictions on shipping through the Strait of Hormuz. This has caused unusual volatility in fuel price premiums and heightened security risks in international shipping.
Providing an update on fuel stocks, the minister noted that the diesel stock stands at 164,644 metric tons, with an additional 138,000 metric tons expected by April 30. Meanwhile, octane and petrol stocks are at 10,500 and 16,000 metric tons respectively, with more shipments on the way.
The Energy Minister described the broader regional impact of the Middle East crisis, noting that neighboring countries have taken various measures, including price hikes and rationing. In contrast, Bangladesh has kept fuel prices stable, prioritizing industrial activities and the welfare of its citizens. Measures like issuing farmer cards to ensure diesel availability have been implemented.
To curb illegal fuel hoarding, district administrations have been instructed to conduct mobile court operations. A monitoring team has also been established at the district level. From March 3 to April 4, 342 operations led to 2,456 cases and 31 imprisonments, with such efforts set to continue.
The Minister underscored initiatives for domestic resource utilization, highlighting that natural gas by-products are being used to produce fuel, ensuring fair distribution of resources across the country.