Fuel crisis artificial Energy minister blames panic buying, black markters

Power, Energy and Mineral Resources Minister Iqbal Hasan Mahmud Tuku has said that while fuel supply in the country remains normal, black market activities have emerged amid a sudden surge in demand.

He made the remarks on Friday afternoon while speaking to journalists after inspecting a 68-megawatt solar power plant in Sirajganj.

The minister explained that although there is no shortage in fuel supply, panic buying driven by global uncertainties has disrupted the market. 

“Previously, the amount of fuel a filling station sold in a full day is now being exhausted within just two hours, as people are purchasing excess fuel,” he said, adding that this has created unusual pressure in the market.

He noted that local administration and law enforcement agencies are actively monitoring the situation. 

“There is evidence that certain dishonest groups are exploiting the sudden rise in demand, contributing to black market activities,” he added.

Speaking about the power situation, Tuku said that power plants are sometimes shut down not due to fuel shortages but because of maintenance needs or demand fluctuations. 

“Electricity generation is currently aligned with the existing demand,” he said.

Addressing concerns about load shedding, he said there have been no major issues during Ramadan. Temporary disruptions caused by storms or natural factors should not be considered load shedding, he added.

Sirajganj Deputy Commissioner (DC) Md Aminul Islam and other officials were present during the visit.

SH