A section of petrol pump owners has welcomed the government’s recent decision to increase fuel prices, saying the move is likely to discourage hoarding and improve market transparency.
Mir Ahsan Uddin Parvez, Member Secretary of the Bangladesh Petrol Pump Owners Association, said aligning domestic fuel prices with rising global market rates would help stabilize supply and reduce stockpiling.
Parvez noted that despite increased fuel supply in March compared to the previous year, unusually long queues of motorcycles, cars, and other vehicles were observed at petrol pumps across the country.
“This situation appeared abnormal,” he said, adding that it led the association to suspect that some individuals were hoarding fuel beyond their actual needs.
“There were complaints of hoarding in various areas, and law enforcement agencies have conducted drives to recover stored fuel,” Parvez said. “We believe that a segment of consumers had been stockpiling fuel at home, and the recent price adjustment may help reduce that tendency.”
He also emphasized that petrol pump owners themselves do not have the opportunity to hoard fuel.
According to Parvez, the association has more than 1,000 members, while a total of 2,298 petrol pumps are currently operating across Bangladesh.
The government announced revised prices for four types of fuel on Saturday night, which came into effect from Sunday. Under the new rates, diesel is priced at Tk 115 per liter, kerosene at Tk 130, octane at Tk 140, and petrol at Tk 135.
