Bangladesh has experienced a sharp increase in fuel prices, rising by 15 to 20 taka per liter, triggering market instability. Opposition leader and Jamaat-e-Islami chief Dr. Shafiqur Rahman criticized the move as an additional blow to citizens, while Energy Minister Iqbal Mahmud Tuku defended it as a necessary step due to global oil price surges and wartime conditions. The article notes that the current crisis mirrors the 1973 oil embargo, with Iran’s closure of the Hormuz Strait now disrupting 20 percent of global supply.

The report highlights that Bangladesh has historically maintained fuel subsidies and adjusted prices multiple times since independence, with 40 recorded increases and three reductions. The International Energy Agency (IEA) and IMF data show that Bangladesh remains among the leading countries providing direct fuel subsidies. In response to the global shortage, IEA member states have agreed to release 400 million barrels from reserves, though experts deem it insufficient.

The author urges the government to form a unified national energy taskforce with opposition participation, warning that the current crisis is more about eroding public trust than fuel scarcity itself.