Fuel stocks secured for April-May: Energy Division

The government has ensured fuel imports for the months of April and May by sourcing from a range of alternative channels, the Energy Division said today.

“We have made our highest efforts to activate all alternative sources. As a result, the government can now confidently say that there is sufficient fuel in stock, including diesel for April and May,” said Monir Hossain Chowdhury, spokesperson for the Energy Division.

Speaking at a regular briefing at the Secretariat, Joint Secretary Monir Hossain Chowdhury cautioned that the ongoing war situation in the Middle East could take a new turn in the coming week.

“If that happens, the government will brief the media accordingly. But at this moment, we are saying that the stock is sufficient,” he added.

He stressed repeatedly that there is no need for panic buying or hoarding. 

“The number of vehicles has not increased since February 28. The supply we provided before that date is the same as what we are providing now. Why panic buying is persisting despite this remains a subject of concern, he added.

According to the Energy Division, national diesel stock currently stands at 101,385 tonnes, while octane stands at 31,821 tonnes, petrol at 18,211 tonnes, furnace oil at 77,546 tonnes, and jet fuel at 18,223 tonnes.

The spokesperson said that between March 3 and April 14, government agencies conducted a total of 9,116 drives nationwide, recovering around 5.42 lakh litres of fuel from hoarding and filing 3,510 cases.

Authorities fined hoarders Tk 1.56 crore and sent 45 individuals to jail for varying terms.

Of the recovered fuel, diesel accounted for 3.66 lakh litres, octane 39,776 litres, petrol 87,959 litres, and furnace oil 48,500 litres, according to the briefing.

The spokesperson said that although the country’s lone refinery, Eastern Refinery Limited, is operating on a limited scale using “deadstock”, it will remain operational until the next crude oil consignment arrives.

A shipment is expected to depart from Yanbu port in Saudi Arabia on April 20 and may anchor by May 2.
“The vessel will travel via the Red Sea through an alternative route,” he said.

He, however, reassured the public that the situation at Eastern Refinery Limited does not significantly affect the overall fuel supply chain, as the country currently holds sufficient refined oil stocks.

“The ERL contributes only one-fifth to the supply chain, which is minor. Currently, two out of four units are in operation using deadstock. In the interim, we are carrying out regular maintenance on the remaining units,” he added.