Energy Minister Iqbal Hassan Mahmood Tuku on Tuesday said the government may consider increasing fuel prices from next month if deemed necessary under the existing price adjustment mechanism.
He made the remarks in Parliament while responding to a question from ruling party MP Shawkatul Islam regarding a possible hike in fuel prices.
The minister noted that fuel pricing is governed by a law that allows monthly adjustments. “We did not change prices last month. We are currently reviewing the situation for next month. If an increase is necessary, the matter will be discussed and placed before the cabinet for consideration,” he said.
Earlier, in an official statement, the minister highlighted that geopolitical tensions in the Middle East—particularly following joint US-Israeli strikes on Iran—have disrupted the global energy supply chain. Restrictions on shipping through the Strait of Hormuz have led to increased freight costs and heightened security risks for maritime transport.
As a result, global fuel markets have experienced significant volatility, affecting supply stability. Despite this, the government is working to maintain uninterrupted fuel supply by exploring alternative sources.
The minister assured that Bangladesh currently has sufficient fuel reserves. Diesel stock stands at 164,644 metric tons, with an additional 138,000 metric tons expected by April 30. Octane reserves are at 10,500 tons, with 71,543 tons due to arrive, while petrol stocks stand at 16,000 tons, with 36,000 tons scheduled for delivery within the same period.
He also pointed out that several South Asian countries are facing fuel supply challenges due to the ongoing crisis. Pakistan has reportedly increased fuel prices by around 50 percent, while Sri Lanka has reduced rationing and working hours. Countries including India, Afghanistan, Bhutan, Maldives, and Nepal have already raised fuel prices.
“Bangladesh has not increased fuel prices in April,” the minister said, adding that the government has kept prices stable to support industrial activity and ease the burden on citizens despite rising global costs.
To support the agricultural sector, district administrations have been instructed to issue farmer cards to ensure farmers receive diesel. Authorities have also intensified efforts to prevent illegal hoarding, including the deployment of mobile courts and district-level monitoring teams.
Between March 3 and April 4, a total of 342 enforcement drives were conducted, resulting in 2,456 cases and 31 jail sentences. Fines amounting to Tk 1.25 crore were imposed, and 448,456 liters of fuel were recovered—comprising diesel, octane, and petrol.
The minister added that efforts are ongoing to better utilize domestic resources, including producing fuel products from condensate derived from local gas fields.
“The operation will continue,” he affirmed.
