BPC to increase fuel supply in divisional cities by 10%
The decision was taken in consideration of the ongoing global crisis and to ensure the continued availability of fuel to meet public demand, BPC said.
Highlights
- Bangladesh Petroleum Corporation will increase octane and petrol supply in divisional cities by 10%
- 5,000 tonnes of diesel from India, following another shipment of over 27,000 tonnes earlier
- Bangladesh seeks China's cooperation to ensure uninterrupted fuel supply from Chinese refiners
- State Minister Aninda Islam Amit said there is no plan to raise fuel or electricity prices.
Bangladesh Petroleum Corporation (BPC) will increase the supply of octane and petrol in divisional cities by 10%.
The government agency has reduced the planned cut in the supply of octane and petrol in divisional cities to 15% from the previously announced 25%, reads a press release signed by BPC Secretary Shohina Sultan.
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According to the press release that came to light today (11 March), the corporation has revised its fuel allocation strategy in response to the ongoing global crisis.
The decision was taken in consideration of the ongoing global crisis and to ensure the continued availability of fuel to meet public demand, BPC said.
BPC has instructed depot superintendents, sales officers and dealers or agents of its marketing companies to take the necessary measures to ensure fuel distribution according to the revised allocation chart.
Also, the government sought assistance from China to ensure a seamless fuel supply from Chinese suppliers under a settled long-term agreement following reports of restrictions on fuel exports from Chinese refineries.
The request was made during a meeting held at the power, energy and mineral resources ministry yesterday (10 March), attended by the minister, state minister, two secretaries, and Chinese Ambassador Yao Wen.
Meanwhile, amid panic buying and growing concern in the fuel market, Bangladesh imported 5,000 tonnes of diesel from India yesterday, just a day after BPC imported more than 27,000 tonnes of diesel.
BPC Chairman Muhammad Rezanur Rahman confirmed the import of diesel from India.
No plan to hike fuel prices
State Minister for Power and Energy Aninda Islam Amit yesterday (10 March) reiterated the government's position on a possible fuel price hike amid rising global prices and panic buying.
"There is no reason to increase the prices of fuel or electricity," he said.
Earlier, on 5 March, all state-owned oil marketing companies proposed raising fuel prices to discourage panic buying as Bangladesh faces growing uncertainty over energy supplies amid escalating tensions in the Middle East.
Managing directors of Padma Oil Company Limited, Jamuna Oil Company Limited, and Meghna Petroleum Limited jointly recommended a price hike, arguing that higher prices could discourage consumers and businesses from stockpiling fuel.
The state minister also said Bangladesh has the capacity to maintain normal energy and power supply until May.
"The concerns and anxiety people are feeling over fuel and electricity will fade soon. At present, there is no shortage in the country," the state minister said.
