Bangladesh has one month's fuel reserves, govt working to increase stock: Cabinet secy

Bangladesh currently has about a month's supply of fuel, Cabinet Secretary Nasimul Ghani said today (25 March), noting that the country normally maintains a 15-day reserve.

Ghani made the remarks during a briefing at the Press Information Department following a Cabinet meeting chaired by Prime Minister Tarique Rahman at the Secretariat.

He said the government is taking steps to further increase fuel reserves to ensure stability amid the ongoing international energy crisis.

Asked about the prime minister's response to the ongoing international energy crisis, the cabinet secretary said, "The prime minister reviewed all available government resources, assessed progress, and examined the steps taken by the ministries. I can briefly say that the reserves are sufficient."

Commenting on panic buying, Ghani said, "Excess fuel purchased unnecessarily could go to waste. The situation should normalize in a few days once public confidence returns. Under the government's plan, the reserves are being increased further."

Regarding the rise in jet fuel prices, Ghani explained, "The international price of jet fuel has increased. Airlines operating here also follow the international rate, so the price movement aligns with global trends."

He confirmed that the one-month reserve includes all types of fuel and added that the Cabinet Committee on Purchase has approved the acquisition of two cargoes of LNG.

Ghani also said that fuel not immediately available under contracts is purchased from the spot market, and decisions often have to be made quickly, sometimes within 10 hours of the cargo's arrival.

Responding to rumors about a fuel price hike, he said, "I am not aware of any such plan, and there are no signs of it at this stage."

The cabinet secretary reiterated that fuel is being procured from multiple sources to maintain and expand the country's reserves.