Prime Minister Tarique Rahman has rejected a proposal to increase fuel prices, directing authorities instead to ensure uninterrupted fuel supply and prevent panic in the market.

The decision was made during a meeting on the country’s energy situation held at the Prime Minister’s Office on Saturday afternoon.

The meeting was attended by Energy Minister Iqbal Hasan Mahmud Tuku, State Minister for Energy Anindya Rahman Amit, the energy secretary, and other officials.

During the meeting, the Ministry of Energy presented a proposal to raise fuel prices, which the prime minister immediately turned down. Officials informed the meeting that the government is currently incurring a loss of around 18 to 20 taka per litre on diesel sales.

However, the prime minister emphasized maintaining steady supply and restoring normal conditions in the market rather than increasing prices.

Officials from the energy division also stated that all necessary measures have been taken to ensure a stable fuel supply across the country. Two ships carrying diesel are expected to arrive on March 9, with two more scheduled to arrive later. They also noted that if the Strait of Hormuz becomes partially operational again, conditions in the international market may gradually stabilize.

The prime minister further instructed authorities to strictly monitor the market to prevent hoarding of fuel. He also said that mobile courts could be deployed if necessary to take action against any irregularities.

Briefing journalists after the meeting, the energy minister said there is sufficient stock of diesel, octane and petrol in the country, urging the public not to panic or attempt to store extra fuel.

He also warned that strict action would be taken against anyone selling fuel above the government-fixed price. Starting Sunday, authorities will conduct inspections at filling stations across the country to ensure they are supplying fuel according to official regulations.