No petrol, octane shortage in next two months: Energy Division

The current fuel stock is satisfactory and there will be no shortage of petrol and octane in the next two months, said Energy Division Joint Secretary Monir Hossain Chowdhury.

He made the remarks on Thursday at a press briefing at the Secretariat on the overall fuel situation.

“There is no shortage of fuel oil at present. The country currently has 143,000 tonnes of diesel, 9,569 tonnes of octane and 16,812 tonnes of petrol in reserve,” he said.

Highlighting government subsidies, he said, ‘The government is providing Tk2,000–Tk2,500 crore per month to the energy sector. Although diesel is being sold at Tk100 per litre, its actual cost is around Tk155, meaning the government is subsidising about Tk55 per litre.”

He also expressed concern over illegal stockpiling of fuel, saying that 469,042 litres of illegally stored fuel were seized in 7,342 drives across the country. According to him, excessive purchasing and hoarding are major factors behind artificial shortages in the market.

On future preparedness, he said, ‘The government is working to build capacity to maintain at least three months’ fuel reserves. Complaints regarding LPG prices will also be reviewed.”

Referring to the global situation, he said the ongoing conflict in the Middle East, even if temporarily eased, would have long-term impacts on the global economy, which Bangladesh would not be able to avoid.

However, he noted, that fuel prices were not increased in April in consideration of public interest. Future decisions on fuel pricing will be taken after reviewing the overall situation, particularly if the global scenario improves, he added.