Cabinet to decide on fuel price hike if needed: Energy Minister

The decision on increasing fuel oil prices will be made after discussion in a cabinet meeting, Power, Energy and Mineral Resources Minister Iqbal Hasan Mahmud Tuku has said. He also said the country has sufficient fuel oil reserves.

The minister made the remarks while speaking in parliament on Tuesday, April 7.

Regarding fuel price hikes, the energy minister said a decision on whether to increase oil prices would be taken after discussion in a cabinet meeting if necessary.

The minister also said among the fuel reserves, diesel has the highest stock at 164,644 metric tonnes. Octane reserves stand at 10,500 tonnes and petrol at 16,000 tonnes.

The minister also said 40,48,465 litres of oil have been recovered in raids over the past month.