The Ministry of Power, Energy and Mineral Resources has reassured the public that Bangladesh maintains sufficient stocks of octane and petrol to meet national demand for at least the next two months. Speaking at a press conference at the Secretariat on Wednesday (April 15), Ministry spokesperson and Joint Secretary Monir Hossain Chowdhury confirmed that there is no shortage of diesel for farmers and that the overall fuel supply chain remains secure.
He addressed the current status of the Eastern Refinery Limited (ERL) in Chattogram, clarifying that the facility has not shut down completely; two units remain operational, and full-scale production is expected to resume by the first week of May. The spokesperson emphasized that ERL provides only 20% of the country’s total fuel requirement, and because the government consistently imports refined oil, any fluctuations in refinery production will not impact the general availability of fuel at the pumps.
To combat illegal hoarding during the current global energy volatility, the ministry has launched an extensive crackdown across the country. Between March 3 and April 14, mobile courts conducted 916 operations, resulting in 3,510 cases. These drives led to the recovery of 542,036 liters of illegally stockpiled fuel, including 3.06 lakh liters of diesel, 39,776 liters of octane, 87,959 liters of petrol, and a recent haul of 48,500 liters of furnace oil from Chattogram. Legal actions have been swift, with 45 individuals sentenced to imprisonment and over Tk 1.56 crore collected in fines. Currently, the national reserve stands at 113,085 tons of diesel, 31,821 tons of octane, 18,021 tons of petrol and 77,546 tons of furnace oil.
Regarding international supply disruptions, Monir Hossain Chowdhury explained that the closure of the Strait of Hormuz due to the conflict starting February 28 had delayed crude oil shipments from Saudi Aramco and the UAE. However, the government has successfully navigated these challenges by rerouting shipments. A crude oil tanker has already departed from Saudi Arabia’s Yanbu port and is traveling through the Red Sea via an alternative channel. This vessel is expected to arrive at the end of April or the first week of May, ensuring the continued operation of the refinery.
Addressing concerns over potential price hikes, the spokesperson stated that the government has not yet made a final decision and is currently avoiding an increase to protect citizens from further economic hardship.
