B Mirror Report: Energy Minister Iqbal Hassan Mahmud Tuku on Tuesday said the government may consider increasing fuel prices from next month, if deemed necessary, by adjusting the rates.

The minister made the remarks in response to a question from government MP Shawkatul Islam regarding a potential hike, according to UNB.

“There is a law for fuel price adjustment. Prices are reviewed monthly. We did not change them last month, but we are reviewing the rates for next month. If an increase is necessary, we will discuss it in the cabinet and decide accordingly,” Tuku said.

The minister noted that geopolitical instability in the Middle East, including the joint US-Israeli attack on Iran and Iran’s restrictions on shipping through the Strait of Hormuz, has disrupted the global energy supply. This has caused unusual volatility in fuel premiums, freight rates, and heightened security risks in international shipping.

Despite these global challenges, Tuku said Bangladesh has maintained normal fuel supply, with adequate stock levels. Currently, the country has around 164,644 tonnes of diesel, with an additional 138,000 tonnes expected by April 30. Octane stock stands at 10,500 tonnes, with 71,543 tonnes scheduled to arrive, while petrol stock is 16,000 tonnes, with 36,000 tonnes to be delivered by the end of the month.

He highlighted that, unlike neighboring South Asian countries facing fuel shortages Pakistan, India, Sri Lanka, Afghanistan, Bhutan, Maldives, and Nepal Bangladesh has not increased fuel prices in April, considering industrial needs and public welfare. District administrations have been instructed to issue farmer cards to ensure diesel reaches farmers.

Tuku added that mobile courts are operating to prevent illegal fuel hoarding, and district-level monitoring teams have been formed. Between March 3 and April 4, 342 operations were conducted, 2,456 cases filed, 31 individuals jailed, fines worth Tk 12.54 million imposed, and 448,456 litres of fuel recovered, including diesel, octane, and petrol.

The minister also mentioned initiatives to produce petrol, diesel, and acetone from domestic gas condensate to ensure fair distribution of natural resources.