Fuel oil stocks adequate, no shortage expected: Energy minister

Energy, Power, and Mineral Resources Minister Iqbal Hasan Mahmud has said that fuel oil stocks are adequate and no shortage is expected. He added that, for now, there is no decision to increase fuel prices.

The minister made the remarks on Tuesday (March 24) while speaking to journalists at his office in the Secretariat.

He said that the normal process of fuel oil supply has been disrupted due to excessive demand from consumers.

Responding to a journalist who asked why people are unable to get fuel despite his earlier statement that there is no shortage, the minister explained that previously, tank lorries would fill up early in the morning and still leave a surplus after daily sales. Now, however, due to long queues, there is no surplus, and the time required to refill from depots via trucks causes a temporary shortage early in the morning, though supply resumes later in the day.

He added, “You have to understand one thing. Demand and stock have suddenly increased so much that the fuel which used to last the whole day is now finished within three hours. Naturally, the supply runs out quickly.”

Asked whether any measures would be taken to prevent consumers from hoarding fuel, the minister said, “We will carry out all the responsibilities that the government needs to fulfill.”

On the issue of increasing fuel prices, he said, “We are saying that the prices have not been raised yet. The matter of price increases is not decided by the ministry; it is handled by the separate Energy Regulatory Commission.”