Govt approves emergency purchase of 300,000 tonnes of diesel

The government has authorised the emergency purchase of 300,000 tonnes of diesel, moving aggressively to secure domestic fuel supplies as the escalating war in the Middle East threatens global energy markets.

The Cabinet Committee on Economic Affairs took the decision today at a virtual meeting chaired by Finance and Planning Minister Amir Khosru Mahmud Chowdhury.

Diesel is the most consumed petroleum product in Bangladesh, which meets almost all of its petroleum requirements through imports. The South Asian nation consumed 68 lakh tonnes of petroleum in the fiscal year 2024-25, of which 43.5 lakh tonnes was diesel.

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The new purchase covers roughly 25 days of national demand.

The meeting, in light of the unstable geopolitical situation arising from the Iran-US-Israel war, approved two proposals from the Energy and Mineral Resources Division to meet the country’s emergency fuel needs.

The high-powered panel approved, in principle, the direct procurement of 100,000 tonnes of diesel from AP Energy Investments Ltd through direct purchase. It also gave the go-ahead for the purchase of 200,000 tonnes of diesel from Superstar International (Group) Ltd under the same method.

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Fuel supply holds steady despite import concerns