Bangladesh’s total stock of fuel oil stood at 1,92,919 tonnes on Tuesday, as authorities moved to calm fears of a supply shortage and warned against panic buying and hoarding.
Monir Hossain Chowdhury, spokesperson and Joint Secretary (Operations Division) at the Energy and Mineral Resources Division, disclosed the figures at a press briefing at the ministry on March 31.
He said the current stock includes 1,28,939 tonnes of diesel, 7,940 tonnes of octane, 11,431 tonnes of petrol and 44,609 tonnes of jet fuel.
No real shortage, say dealers
Industry insiders, however, pointed to market distortions rather than supply constraints.
The Bangladesh Petroleum Dealers, Distributors, Agents and Petrol Pump Owners Association said there is no actual shortage of fuel in the country, as the government continues to supply oil regularly.
According to the association, an “artificial crisis” has emerged due to hoarding, panic buying and illegal stockpiling in parts of the market.
Leaders of the organisation urged consumers not to over-purchase fuel, warning that such behaviour is putting unnecessary pressure on the supply chain.
Hoarding, ride-sharing misuse blamed
Speaking at an emergency press conference in the capital’s Moghbazar area, convener Syed Sajjadul Karim Kabul said some motorcycle ride-sharing operators are contributing to the surge in demand.
“Instead of transporting passengers, many are queuing at petrol pumps to buy fuel, which is later resold at higher prices or stored illegally,” he said.
He added that while supply remains consistent, demand in some areas has risen two to three times, disrupting distribution.
Authorities have also found evidence of fuel hoarding during recent raids, further confirming irregularities in the market.
Proposal to regulate pump hours
The association also alleged that certain groups create disorder at petrol pumps, particularly in the evening, leading to panic among customers.
To address this, it has proposed fixing fuel sale hours from 7:00am to 8:00pm to maintain discipline and reduce crowding.
Crackdown on illegal stockpiling
Law enforcement agencies seized 87,700 litres of illegally stored fuel in nationwide drives on Monday, highlighting growing concerns over black-market activities.
Global tensions add uncertainty
The domestic situation comes against the backdrop of heightened tensions in the Middle East, particularly the ongoing conflict involving Iran, which has disrupted global energy markets.
Officials say the volatility has created uncertainty in fuel supply chains worldwide, with Bangladesh also feeling the ripple effects.
Despite this, authorities maintain that current reserves are sufficient and that the situation remains under control – provided panic buying and hoarding can be contained.