Energy Minister urges not to buy more oil as demand increases

Although there is sufficient fuel oil stock in the country, there has been pressure on supply due to sudden increase in demand, said Power, Energy and Mineral Resources Minister Iqbal Hasan Mahmud Tuku.

While talking to reporters at the Secretariat on Tuesday (March 24) on the first working day after the Eid holidays, he said that a temporary crisis-like situation has been created due to an abnormal increase in demand. However, there is no reason to panic as the stock is adequate.

The minister urged everyone not to buy more oil than necessary and said that if oil is bought according to normal demand, there will be no problem in the supply system and everyone will get fuel according to their needs.

He also said that the issue of determining the price of fuel oil falls under the jurisdiction of the Energy Regulatory Commission. However, the government has not taken any decision to increase the price of oil so far.

Earlier on Monday, the minister said that some pressure has been created due to the supply being cut off for two consecutive days due to Eid. However, he expressed hope that the supply is normal at present and the situation will stabilize soon.