No fuel shortage; 50,000 tonnes of octane arriving in April: Energy minister
The government announced that another 30,000 tonnes of octane will be supplied from domestic sources
Minister for Power, Energy and Mineral Resources Iqbal Hasan Mahmud Tuku stated in a parliamentary session today (30 March) under Rule 300 that the government has taken the initiative to import 50,000 tonnes of octane in April.
Additionally, the government announced that another 30,000 tonnes of octane will be supplied from domestic sources.
As a result, even though the monthly demand is 35,000 tonnes, the current management will ensure an additional reserve for at least two months.
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The minister said that although global instability – particularly tensions in the Middle East – has created pressure on the global fuel supply, Bangladesh has kept the situation under control through advanced preparation, consistent imports and effective management.
The minister noted that despite the increase in prices on the international market, fuel prices have not been raised domestically.
Currently, while the selling price of diesel is Tk100 per litre, the actual cost is approximately Tk198. The government is also providing subsidies for octane.
The minister stated that for the March-June quarter, a total subsidy of Tk15,409 crore will be required for diesel, and Tk636 crore for octane, totalling Tk16,045 crore.
"Furthermore, for LNG imports through Petrobangla, a subsidy of Tk15,077 crore will be required for the April-June quarter. This government believes the state's primary responsibility is to stand by the people during crises and ensure their protection," he added.
The minister said, "I want to reassure the nation through this parliament that fuel prices have not been increased in the country despite the foreign crisis. Many countries around the world have had to adjust fuel prices repeatedly. Even in many neighbouring countries, prices have increased by more than 25%."
He emphasised that the Bangladesh government has prioritised the public interest and kept prices stable, because if fuel prices rise, the cost of agricultural production, transport and the general public's cost of living increases manifold.
The discussion on hiking fuel prices comes in the face of a global crisis stemming from the Middle East war. In order to cope with energy shortages, prices have increased in many neighbouring countries, and some countries have even shut down educational institutions due to energy shortages.
Earlier, Home Minister Salahuddin Ahmed said keeping fuel prices unchanged in the country, despite their rise in international markets following the Middle East war, was a major success of the government.
