Don’t Let LPG Syndicates Hold Us Hostage

We find it deeply concerning that ordinary households are now facing another blow amid persistent inflation. This time, the pressure comes from an artificial squeeze in the liquefied petroleum gas (LPG) market, where a recent intelligence report reveals that several major importers deliberately choked off supplies despite having ample stock. By engineering localised scarcity to force prices up, these operators have created a crisis that demands immediate administrative action before a handful of corporate players permanently gain the power to hold millions of consumers hostage.

The betrayal becomes even starker when examining national import data. Imports remained solid at over 1,56,000 tonnes through September, proving that there was no deficit at our ports. Yet, key operators allegedly held back thousands of tonnes after international prices jumped by $64 per tonne, choosing to hoard their supply while waiting for the Bangladesh Energy Regulatory Commission (BERC) to announce a higher monthly tariff. As a direct result of this deliberate delay, while the official price for a 12kg cylinder stood at Tk1,585, helpless consumers were forced to pay extortionate retail rates between Tk2,200 and Tk2,500.

This dramatic price gap highlights a dangerous reality: captive consumers lose instantly when a few suppliers control an essential commodity. Millions of families rely on LPG to cook daily meals, while small eateries and transport operators depend on it to keep their doors open. Because these consumers cannot simply opt out when prices spike, thinned availability leaves citizens with no choice but to pay whatever price corporate greed dictates - eroding public trust in both the market and the regulators meant to protect them.

We welcome the government’s initial response, including demanding full import and distribution logs within seven days alongside mobile court drives against hoarding. While these are positive steps, administrative warnings alone will not dismantle a cartel. To deliver true accountability, the authorities must trace gas volumes from offshore import terminals straight down to neighbourhood dealers, identifying precisely who held back stock, why they did it, and who profited from the resulting panic.

This comprehensive tracing is particularly critical because BERC’s monthly pricing framework was designed to mirror global market realities fairly. It was never intended to give importers a predictable window to engineer artificial scarcity right before every price revision. If operators can routinely starve the market today to demand higher official margins tomorrow, the entire regulatory framework loses its credibility and authority.

The need of the hour therefore demands firm, deterrent action to restore order. The authorities must thoroughly investigate the companies named in the report, impose severe penalties on any entity caught stockpiling, and enforce transparent supply tracking from dock to door. Ordinary citizens should not have to pay hundreds of taka extra simply to feed their families, and the government must act decisively now to prove that public interest will always prevail over private syndicate greed.