The government has seized 40,48,465 litres of fuel oil over the past month through ongoing operations to prevent illegal hoarding and black marketing, Energy Minister Iqbal Hasan Mahmud Tuku told parliament on Tuesday.
The minister provided the information in response to an urgent notice raised by ruling party MP Md Shaukatul Islam during the National Parliament session presided over by Speaker Major (retd) Hafiz Uddin Ahmed.
Tuku said the government is procuring fuel from all possible sources to maintain normal supply, adding that there is a legal framework for monthly fuel price adjustments. Last month, after adjustment, prices were not increased, and the government is currently working on prices for the coming month.
Regional instability disrupts global supply
The minister said geopolitical instability in the Middle East and US-Israeli joint attacks have led Iran to impose restrictions on ship movement in the Strait of Hormuz, disrupting the global fuel supply system. This has caused abnormal instability in fuel oil premiums and freight rates, as well as increased security risks for ships on international sea routes.
Despite these challenges, the government has maintained normal supply of all types of oil by exploring all possible sources, he said.
While all South Asian countries are struggling with fuel supply, the minister noted that Pakistan has increased prices by 50 percent, Sri Lanka has introduced rationing and reduced working hours, and India, Afghanistan, Bhutan, the Maldives, and Nepal have already raised fuel oil prices.
“Bangladesh has not increased prices,” Tuku said, adding that the government kept fuel oil prices unchanged in April considering the country’s industrial activities and the livelihoods of ordinary people.
Reserves and farmer support
Among fuel reserves, diesel is the highest at 1,64,644 metric tonnes, followed by 16,000 metric tonnes of petrol and 10,500 metric tonnes of octane, the minister said.
District administrations have been instructed to provide farmer cards to ensure diesel availability for farmers, and all district administrations have been directed to conduct mobile courts to prevent illegal hoarding. A monitoring team has also been formed at each district level, Tuku added.
