Finance Adviser Dr Salehuddin Ahmed said Tuesday (June 17) that Bangladesh has no immediate plans to raise fuel prices, despite the ongoing Iran-Israel conflict which has triggered concerns over global energy markets.

He said, “For now, we are observing. If the war continues for an extended period, it might exert pressure on us. But at this stage, there will be no impact on trade, and fuel prices will remain unchanged.” 

The adviser made the remarks while speaking to reporters following meetings of the Advisory Council Committee on Economic Affairs and the Government Procurement Committee at the Secretariat in Dhaka.

Responding to concerns about possible disruptions in oil supply and price hikes due to tensions in the Strait of Hormuz — a key global shipping route — the adviser said that the government is taking precautionary measures.

“As a precaution, we have approved LNG and fertilizer imports at the previous, lower price. That gives us some breathing space. If global LNG or gas prices rise, we will review the situation,” he said.

Asked whether the government is preparing contingency plans in the event of a prolonged conflict, Dr Ahmed said the Ministry of Energy is actively assessing alternatives.

“We rely significantly on LNG. The war may affect not only fuel prices but also shipping routes. The Strait of Hormuz is crucial. But I believe the conflict will not drag on,” he added.

The assurance comes amid growing uncertainty in global markets as tensions between Iran and Israel threaten to escalate into a broader regional crisis, potentially disrupting oil and gas supplies.

SMS/