Bangladesh has sufficient fuel stock and there is no risk of supply disruption or price hike despite the ongoing tensions in the Middle East, Bangladesh Petroleum Corporation (BPC) Chairman Md Rezanur Rahman said on Tuesday.

“We have already opened letters of credit (LCs) for 15 consignments for March. For April, another 15 consignments have been scheduled, of which payment for seven has already been completed. So there is no reason for any fuel shortage in the country,” he told reporters at the BPC office in Karwan Bazar.

The BPC Chairman said the country currently has fuel reserves sufficient for several days, including diesel for 14 days, octane for 28 days, petrol for 15 days, furnace oil for 93 days and jet fuel for 55 days.

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Responding to a question about possible supply chain disruptions due to the conflict in the Middle East, the BPC chairman said a crude oil consignment was loaded on March 1 and is scheduled to pass through the Strait of Hormuz.

“It will start its journey once the situation remains normal. Another consignment will be loaded on March 22. Suppliers have informed us that supply will remain uninterrupted for now,” he said.

Rezanur said BPC is also exploring alternative sourcing options in view of the evolving situation.

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If necessary, additional refined fuel will be imported, he added.

The government last adjusted fuel prices on March 1, keeping retail prices unchanged for March. Diesel remains at Tk 100 per litre, octane at Tk 120, petrol at Tk 116 and kerosene at Tk 112 per litre.