Adequate LPG supply, yet prices rise

The government has warned of action against anyone found hoarding liquefied petroleum gas (LPG) with the intention of creating artificial scarcity or public discontent, while officials maintained that there is no shortage of the fuel in the domestic market.

Prime Minister’s Information and Broadcasting Adviser Zahed Ur Rahman made the remarks at a press briefing at the Secretariat on Tuesday, 29 September.

Citing data from the National Board of Revenue, he said Bangladesh imported 157,760 metric tonnes of LPG in August, while 118,000 metric tonnes had been imported so far in September.

He said the current supply and stock situation remained satisfactory.

According to Zahed, LPG importers and operators also assured the Minister for Power, Energy and Mineral Resources at a recent meeting that there was no shortage of LPG in the market.

The meeting reviewed LPG imports, stocks, supply conditions and market prices.

Zahed said LPG prices had nevertheless increased in some areas despite adequate stocks, prompting the government to ask relevant authorities to remain vigilant against possible hoarding or artificial supply disruptions.

He warned that action would be taken against anyone found deliberately withholding LPG from the market to create public dissatisfaction.

Zahed also said speculative trends in global commodity markets could be contributing to upward pressure on prices.

“The government is monitoring the situation and taking necessary measures,” he said.