No price hike for now: Govt focuses on monitoring, bridging supply gaps

Infographic: TBS

No decision has been taken on raising fuel prices, Information and Broadcasting Minister Zahir Uddin Swapan said yesterday after a special meeting, chaired by Prime Minister Tarique Rahman, on the measures to address the fuel situation in the country.

Briefing the media after the meeting, he added, "There is no shortage of fuel in the country, nor do we think we will face a shortage."

The meeting discussed various initiatives taken by the government to tackle the fuel situation, such as coordinating with deputy commissioners (DCs) to bridge supply gaps, while also increasing public awareness on saving fuel and electricity.

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

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."

The meeting was held at the prime minister's Cabinet Division office in the Secretariat.

Following the disruption at the Strait of Hormuz amid the US-Israel war with Iran, a fuel crisis arose across the world, especially in countries which depend on imports for energy generation, said Swapan.

The information minister said the minister and state minister for power, energy and mineral resources, on the direction of the prime minister, are handling the situation and have not given any directive to raise prices.

Even the prices in Bangladesh are lower than in neighbouring countries, he added.

However, due to misinformation being spread on traditional media and social media, panic buying has begun in the country. This is creating pressure on the government, said the information minister.

He urged the media to raise awareness against panic buying. The minister also urged people not to engage in hoarding amid global uncertainties.

State Minister for Information and Broadcasting Yeaser Khan Choudhury, adviser on the ministry Dr Zahed Ur Rahman and Information and Broadcasting Secretary Mahbuba Farjana were present at the presser.

Zahed Ur Rahman also warned against hoarding, saying it would not be beneficial as fuel prices are not increasing.

Daily meetings with oil companies' MDs to ensure fuel supply

Officials from the Energy Division said that every morning they hold online meetings with the managing directors of the three state-owned fuel marketing companies – Padma Oil, Meghna Petroleum, and Jamuna Oil Company – to gather updated information on the fuel supply situation. From yesterday morning, all district commissioners across the country are also being included in these meetings. The coordination meeting is being led by Joint Secretary (Operations) Munir Hossain Chowdhury.

Officials told TBS that during the meetings, if any district commissioner reports that filling stations in their district are receiving less fuel than allocated from depots, explanations are immediately sought from the respective marketing company's managing director. Instructions are then given to ensure that each filling station receives its allocated supply.

They added that updated data on the previous day's fuel supply from the three state-owned companies is also collected during the meetings and presented to the minister and secretary of the ministry.

"If any district commissioner proposes additional supply for filling stations in their district, steps are taken to resolve the issue in consultation with the minister or secretary," a concerned official said.

An Energy Division official told TBS that work is underway to introduce a QR code, which will be displayed on banners at all filling stations nationwide starting next week. The banners will advise the public to use fuel efficiently and discourage purchasing more fuel than necessary.

By scanning the QR code on the banner, any citizen will be able to see how much fuel a particular filling station has collected from depots over the past seven days.

In addition, the Energy Division will send letters to all schools in the country, requesting them to help raise awareness among students. Before the start of classes, teachers will encourage students to conserve fuel and electricity and to motivate their parents to do the same.

The government is also taking initiatives to raise awareness through mosques, madrasas, and other places of worship across the country.

Furthermore, the energy ministry has taken steps to print leaflets to promote public awareness on energy conservation, which will be distributed through organisations such as the Girls Guides and other groups.

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

Responding to rumours about a fuel price hike, the secretary 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.