Only Bangladesh keeps fuel price stable in South Asia: Tuku

Minister for Power, Energy and Mineral Resources Iqbal Hasan Mahmud Tuku said on Tuesday that Bangladesh was the only country that managed to keep fuel prices stable in South Asia.

The minister said almost all countries in South Asia were struggling to cope with the current situation. Pakistan had increased fuel prices by 50%, Sri Lanka introduced rationing, and India, Afghanistan, Nepal, and other countries raised prices.

The Minister also said that there was a fixed mechanism for adjusting fuel oil prices, and it was reviewed every month. A decision on whether fuel prices would be increased next month would be taken after discussion in the cabinet meeting.

“Due to political instability in the Middle East and the restrictions imposed by Iran on ship movement through the Strait of Hormuz following joint US-Israeli attacks, global fuel supply is being disrupted. As a result, abnormal volatility has been observed in international oil prices. Despite this situation, the government has maintained a normal supply of all types of fuel in the country by exploring all possible sources.” Mentioning that the country currently has sufficient fuel reserves, the minister said that there are now 164,644 tonnes of diesel in stock, and another 138,000 tonnes will arrive by 30 April.

Without this, there are 10,500 tonnes of octane in stock, and another 71,433 tonnes are expected to arrive within April. Petrol reserves stand at 16,000 tonnes, with an additional 36,000 tonnes awaiting arrival. He further said that fuel prices have been kept unchanged in April considering the livelihood of the general public and agricultural activities. To ensure diesel supply for farmers, instructions have been given to deputy commissioners to issue agricultural cards similar to irrigation cards.

Highlighting strict measures to prevent illegal hoarding and smuggling of fuel, the minister said, “From 3 March to 4 April, a total of 342 drives were conducted across the country. Of this, 2,456 cases were filed and 31 individuals were sentenced to imprisonment. During this drive, fines amounting to Tk12.539 million were realised, and approximately 4,048,456 liters of fuel were recovered.”

The minister also informed that tag officers have been appointed at every filling station for monitoring, and the situation is being monitored daily via Zoom meetings with deputy commissioners.

Fuel raids nationwide: 3,657 litres seized in 384 drives

Meanwhile, mobile court operations conducted across Bangladesh on 6 April led to multiple arrests, fines, and the seizure of illegally stored fuel, according to district-level reports compiled from all 64 districts.

A total of 384 enforcement drives were carried out nationwide under the supervision of magistrates from the Energy and Mineral Resources Division, said sources at the division.

The operations resulted in 194 cases being filed and the imposition of around Tk8.25 lakh in fines. Three individuals were also sentenced to imprisonment during the drives.

Authorities said the mobile courts were deployed as part of routine monitoring and enforcement activities aimed at preventing illegal fuel storage, hoarding, and market irregularities.

During the operations, law enforcement agencies recovered a total of 3,657 litres of illegally stored fuel from different parts of the country. The seized fuel included 1,781 litres of diesel, 1,130 litres of petrol, and 96 litres of octane.