Although the government lifts all fuel rationing measures for petrol, octane, and diesel starting Sunday, vehicles continue to form long queues for fuel in the capital. The photo was taken near a filling station on Kuril Biswa Road. — FE Photo by K Asad-Uz-Zaman The government on Sunday lifted all fuel-rationing measures for petrol, octane, and diesel following the arrival of several imported oil consignments at Chattogram port, easing supply concerns ahead of Eid-ul-Fitr.
State Minister for Power, Energy and Mineral Resources Anindya Islam Amit announced the decision at a press conference at the Secretariat in the capital, saying the restrictions imposed earlier this month were no longer necessary as supplies had stabilised.
The measure came when the petrol pumps in the capital continued to witness long queues amid the Middle East military escalation.
The rationing measures were first introduced on March 6 after escalating tensions in the Middle East disrupted global energy supply routes, prompting the government to limit fuel purchases in a bid to prevent stockpiling and manage declining inventories.
With fresh shipments now docked at Chattogram, officials of the Ministry of Power, Energy and Mineral Resources confirmed that filling stations across the country can collect fuel from depots according to demand.
He also said the government had decided not to raise domestic petroleum prices for now, despite recent increases in international markets.
"The government has kept the fuel prices unchanged to ease public woes," he added.
The Ministry of Power, Energy and Mineral Resources also issued a separate press release confirming the withdrawal of rationing.
Officials at the state-run Bangladesh Petroleum Corporation (BPC) said the decision applies to both distributors and consumers, meaning fuel can now be purchased without any limits.
Instructions have already been communicated to the three state-owned marketing companies -- Padma Oil PLC, Meghna Petroleum Limited, and Jamuna Oil Company Limited -- to implement the decision immediately across the country.
The supply of fuel oils will return to normal by today (Monday), according to the petrol pump owners' association.
"I expect there will be no shortage of fuel oils by tomorrow evening (Monday)," Nazmul Hoque, president of Bangladesh Petroleum Dealers, Distributors, Agents and Petrol Pump Owners Association, said on Sunday.
He said that fuel oils already reached many filling stations and the situation would stabilise.
Consumers struggled to obtain enough fuel to run their vehicles over the last few days following supply crunch due to the ongoing military escalation in the Middle East.
However, the government plans to build strategic fuel reserves equivalent to around two months of national consumption in an effort to stabilise supplies and strengthen energy security as geopolitical tensions intensify in the Middle East.
Officials say the initiative follows concerns that the widening regional conflict, triggered by the recent United States-Israel attack on Iran and the subsequent backlash, could disrupt global energy flows and push up fuel prices, posing fresh risks for import-dependent economies such as Bangladesh.
The government is currently sourcing petroleum products from multiple suppliers to ensure a steady supply, the official added.
"We have many sources, including a supply facility from Russia," the official said.
The United States has granted a 30-day exemption to manage Russian crude oil imports.
The government has already finalised procurement of about 325,000 tonnes of fuel from Kazakhstan and Brunei, the official confirmed. Some 200,000 tonnes will come from Kazakhstan while 125,000 tonnes will be sourced from Brunei.
Kazakhstan's fuel is being purchased at a very low price, while the cargo from Brunei has been secured at a comparatively competitive rate with almost zero premium, according to the official.
"We hope to raise the national fuel stock to cover roughly two months of demand," he said.
Meanwhile, the division held an emergency meeting on Sunday with deputy commissioners (DCs) across the country to ensure strict monitoring of fuel distribution at the local level.
The cabinet secretary also attended the meeting held at the Bangladesh Secretariat on the day.
Officials said the DCs had been instructed to take firm action against dealers involved in irregularities in fuel sales.
Local administrators have also been asked to carry out daily inspections of fuel stations and depots, examine sales records and verify relevant documents to prevent hoarding and manipulation of supply.
Authorities suspect that artificial shortages have been created in certain areas through irregular practices by some dealers.
"We have information that there are attempts to create artificial crises in some places of the country."
The DCs have been instructed to monitor the situation closely and take stern action where necessary.
The directives take immediate effect.
Prime Minister's Finance and Planning Adviser Dr Rashed Al Mahmud Titumir said Sunday that the government would leave no stone unturned to secure funds and make necessary allocations to ensure energy security in the country.
He also said, if necessary, approaches would be made to get funds from development partners like the International Monetary Fund (IMF) and the World Bank.
Mr Titumir was talking to newsmen at his office at Bangladesh secretariat in the capital.
He said allocations were being made to purchase energy by reducing expenditure in other sectors. In addition, the issue of taking low-interest loans from international development organisations was also being considered.
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