Minister of Power, Energy and Mineral Resources Iqbal Hasan Mahmud Tuku on Tuesday said that Bangladesh has sufficient fuel stocks, but a temporary shortage situation has emerged due to a sudden increase in demand.
He made the remarks while speaking to reporters at the Secretariat on Tuesday morning, the first working day after the Eid holidays.
The minister said a gap has been created between demand and supply as fuel consumption rose sharply within a short period.
However, supply operations are continuing at the usual pace.
“A gap has developed between demand and supply. Demand has increased suddenly, while supply has been continuing as before. When demand rises significantly, a temporary crisis can naturally occur,” he said.
Tuku emphasized that there is no actual shortage of fuel in the country and urged people not to stockpile fuel unnecessarily.
He questioned whether any major disruption occurred during the Eid travel period due to fuel shortages.
“Did any vehicle stop due to a lack of fuel? During Eid, people travelled across the country, and no buses were forced to halt due to fuel shortages. There was no major inconvenience caused by fuel during Eid,” he said.
The minister also noted that Bangladesh depends heavily on imported fuel, and global market uncertainties have contributed to concerns.
He urged the public to use fuel responsibly and avoid panic buying.
“We did not create this situation. We import fuel, and there is instability in the global market. Therefore, everyone needs to be more economical in fuel use,” he added.
Regarding the possibility of fuel price adjustments, the minister clarified that the Ministry does not directly determine fuel prices. Instead, the Bangladesh Energy Regulatory Commission (BERC) is responsible for reviewing and setting prices.
He added that no decision has yet been taken to increase fuel prices and assured that there is no reason for public concern as sufficient fuel reserves remain available.