Power and Energy Minister Iqbal Hassan Mahmud today said in parliament that the government is exploring all possible sources and continuing the normal supply of all types of fuel in the country although there has been instability in global fuel supply.
 
“The government is exploring all possible sources and continuing the normal supply of all types of fuel in the country…there is adequate supply of all types of fuel oil in the country,” he said.

The minister said this in response to a question from ruling party lawmaker Md. Shawkatul Islam (Moilvibazar-2) on urgent public matters in the Jatiya Sangsad today. 
About the fuel price hike, he said there is a law for fuel oil price increase. 

“According to that law, we adjust the prices every month. We didn’t adjust the prices last month. We are working on the prices next month. If we work and adjust and if it is deemed that increasing the prices is necessary now, then we will discuss and take it to the cabinet and think about increasing the prices,” he said.

Earlier, in a statement, the minister said that in the wake of the geopolitical instability in the Middle East, the global energy supply system has been disrupted due to the restrictions imposed on shipping in the Strait of Hormuz.
 
As a result, he said, there has been an unusual volatility in fuel price premiums and freight rates. Security risks in shipping on international waterways have increased. 

Highlighting the stock picture, the Energy Minister said, diesel stock is now 164,644 metric tons while 138,000 metric tons will arrive by April 30. 
On the other hand, Octane stock is 10,500 metric tons while 71,543 metric tons will arrive by April 30. Petrol is in stock of 16,000 metric tons while 36,000 metric tons will arrive by April.

The Energy Minister said that due to the crisis in the Middle East, all countries in South Asia are struggling to supply fuel oil. He said Pakistan has increased the price by 50 percent, Sri Lanka has reduced rationing and working hours while India, Afghanistan, Bhutan, Maldives, Nepal have already increased the price of fuel oil. 

“But, Bangladesh has not increased the price. Despite the abnormal increase in fuel oil worldwide, the government has kept the price of fuel oil unchanged in April, considering the country's industrial activities and the living conditions of the common people. District administrations have been instructed to issue farmer cards to ensure that farmers receive diesel,” he said.

The Energy Minister said that the government has instructed all district administrations to operate mobile courts to prevent illegal hoarding of fuel oil.  A monitoring team has been formed at the district level.

Mentioning that various initiatives have been taken for the proper use of domestic mineral resources, the Minister said that to ensure fair distribution of natural gas, petrol, acetone and diesel are being produced using condensate obtained as a by-product from domestic gas fields.

To prevent illegal storage of fuel oil, he informed some 342 operations were conducted from March 3 to April 4, some 2,456 cases were filed while 31 people were sentenced to prison. “Such operation will continue,” he said.