A sudden shortage of petrol has been reported across multiple filling stations in Rangpur Division, where customers claim a syndicate is deliberately withholding fuel to create an artificial crisis. Despite government instructions on fuel distribution limits, petrol has become unavailable at most pumps, forcing consumers to buy octane instead. In response, the Bangladesh Standards and Testing Institution (BSTI) and the district administration launched joint drives, fining and warning pump owners for non-compliance.

On Saturday, long queues formed at petrol stations as motorcyclists and car owners struggled to refuel. Several customers accused pump owners of hoarding petrol to manipulate prices, while some station managers argued that supply disruptions were due to depot closures on Friday and Saturday. However, mobile courts found evidence of petrol being withheld despite available stock.

The mobile court fined the Shapla Uniq Petrol Pump Tk 10,000 and the City Petrol Pump Tk 20,000 for creating artificial shortages. Officials confirmed that sufficient fuel supply exists and urged the public not to panic or buy excessively. The inspection drives will continue across all pumps in Rangpur.

Foreign oil companies have begun withdrawing their employees from Iraq’s oil fields, according to footage obtained by Reuters showing workers crossing the Safwan border into Kuwait. A security guard from the US oil company Halliburton, Mohammad Ta’meh, told Reuters that foreign staff left Iraq due to the deteriorating security situation and will decide their next steps from Kuwait.

Another US oil producer, HKN Energy, halted oil production on Friday after reports of attacks by terrorist groups. The withdrawals and production halt come as oil fields across the region have become targets during a week-long conflict involving Iran, the United States, and Israel.

The developments highlight the growing instability in Iraq’s energy sector and the potential disruption to regional oil operations as security threats intensify.

Bangladesh’s macroeconomic stability is under significant pressure, according to Dr. Fahmida Khatun, Executive Director of the Centre for Policy Dialogue (CPD). Speaking on Saturday at a shadow parliament debate titled “Economic Stability to Meet Public Expectations” held at the FDC auditorium in Dhaka, she said the economy is at a stage that requires transformation. The event was organized by Debate for Democracy and chaired by its chairman Hasan Ahmed Chowdhury Kiron.

Dr. Khatun highlighted multiple challenges including high inflation, limited fiscal space, stagnation in private investment, monetary risks, heavy debt burden, energy sector stress, political uncertainty, and both domestic and global pressures. She emphasized that macroeconomic discipline is essential to restore stability. The newly elected government, she noted, faces major tasks such as restoring stability, strengthening governance, rebuilding investor confidence, and creating employment.

She added that the government has outlined goals to reshape the economy, aiming for a one-trillion-dollar size by 2034, increasing the tax-to-GDP ratio, boosting investment, and expanding social protection through family and farmer cards. She stressed the need for coordinated monetary and fiscal policies to control demand pressures and stabilize inflation expectations.

Bangladesh’s Minister of Power, Energy and Mineral Resources, Nasrul Hamid, stated on Saturday in Tejgaon, Dhaka, that the country has adequate oil reserves and there is no reason for public concern. He announced that two additional oil vessels are scheduled to arrive on March 9, ensuring continued supply and preventing any potential shortage. The minister urged citizens not to panic or stockpile fuel unnecessarily, assuring that petrol pumps are being regularly supplied.

He explained that global instability, particularly the ongoing war in the Middle East, has created uncertainty in the international energy market, leading to public anxiety. As a precaution, the government has introduced limited fuel rationing, which some people misinterpreted as a sign of scarcity. The minister clarified that the rationing is a preventive measure, not a response to shortage.

To maintain control over fuel distribution, the government will deploy mobile courts from the following day to monitor petrol pumps and investigate any irregularities. The minister also confirmed that Bangladesh continues to import LNG from Qatar and is exploring alternative energy sources to ensure future stability.

In Chatmohar upazila of Pabna, octane is being sold at Tk 170 per liter, which is Tk 50 higher than the official price of Tk 120. Petrol is being sold at Tk 140 instead of Tk 116, and diesel at Tk 115 instead of Tk 100. Motorcyclists reported that sellers are charging extra citing the ongoing war situation as justification.

The report states that due to the current conflict involving the United States, Iran, and Israel, fears of a fuel price hike have led to increased demand and crowding at fuel stations. Some unscrupulous traders are reportedly hoarding fuel to exploit the situation. The owner of the only fuel pump in Chatmohar, KM Saeed Ul Islam Kafi, said his station sells fuel at official rates but demand exceeds supply.

Chatmohar Upazila Nirbahi Officer Musa Naser Chowdhury said that operations will soon be conducted against dishonest traders charging excessive prices.

The United States will not grant India any trade concessions, Deputy Secretary of State Christopher Landau announced at the Raisina Dialogue in New Delhi on Thursday. He said Washington does not want to repeat the mistake it made two decades ago by giving China special trade privileges, which helped Beijing become a major rival. Landau emphasized that the Trump administration’s decision reflects a broader policy of using tariffs as a negotiation tool and prioritizing national interests.

Landau stated that while the U.S. values its economic relationship with India, it cannot offer unfair advantages, as both governments are accountable to their citizens. He confirmed that Washington and New Delhi agreed on an interim trade framework on February 6, set to take effect in April, imposing an 18 percent reciprocal tariff on several Indian goods. The U.S. had earlier announced a 50 percent tariff on Indian imports due to oil purchases from Russia but later withdrew the punitive portion after India accepted certain U.S. conditions.

Landau also urged India to diversify its energy sources amid supply disruptions linked to the Iran-Israel conflict, suggesting the U.S. could play a larger role in India’s energy security.

Long queues formed at petrol pumps across Bangladesh, including Dhaka, Chattogram, Sylhet and Rajshahi, as consumers rushed to buy fuel amid fears of supply disruption and price hikes linked to the ongoing Middle East war. The Bangladesh Petroleum Corporation (BPC) imposed limits on daily fuel sales by vehicle type to prevent artificial shortages, assuring that national reserves remain sufficient. Some pumps temporarily closed due to excessive demand, while others restricted sales per customer.

Energy Minister Iqbal Hasan Mahmud urged the public not to panic, saying fuel stocks and supply are stable. State Minister for Energy Anindya Islam Amit announced that a rationing system for fuel sales would begin Sunday to ensure long-term stability. BPC reiterated that no government decision had been made to raise prices and warned against overcharging.

The surge in demand followed reports of regional conflict after U.S. and Israeli attacks on Iran, which led to retaliatory strikes and closure of the Hormuz Strait. Authorities expect the situation to normalize soon as imports and domestic distribution continue under regular schedules.

The Bangladesh Petroleum Corporation (BPC) announced that the government has not yet made any decision to increase fuel prices amid the current crisis. The statement, signed by BPC Secretary Shahina Sultana and issued on Friday, emphasized that fuel must be sold at government-fixed prices and that charging extra under the pretext of crisis is a legal offense. It also noted that fuel prices are set by the government at the beginning of each month.

The BPC further stated that reports have emerged of some consumers attempting to stockpile fuel by purchasing more than necessary from dealers and filling stations. The matter has come to the attention of the Energy and Mineral Resources Division and other relevant authorities. To reduce public fear, the BPC assured that fuel imports and distribution across the country are continuing as scheduled, with regular shipments arriving and supplies being sent to depots by rail wagons and tankers.

The corporation expressed hope that a sufficient buffer stock of fuel will be established in the country within a short period.

A sudden rush for fuel gripped Sylhet city on Thursday night and Friday as rumors spread that global tensions in the Middle East could trigger a rise in fuel prices. Long queues formed at petrol pumps, with many buyers attempting to stock up on petrol, octane, and diesel. Some stations began rationing fuel, limiting sales to 200 taka per motorcycle. Dealers said the panic buying created an artificial shortage, though supplies remained adequate and normal distribution was expected to resume by Sunday.

Fuel traders and pump owners confirmed that the government had fixed prices for March—diesel at 100 taka, kerosene at 112, petrol at 116, and octane at 120 taka per liter—and no price increase was planned mid-month. They urged consumers not to crowd stations unnecessarily, noting that depots remain closed on weekends, which temporarily constrained supply.

Officials from the Sylhet division’s petrol pump owners’ association and the national petroleum dealers’ body reiterated that there was no actual shortage and appealed for patience until regular supply resumes.

Bangladesh’s Minister of Power, Energy and Mineral Resources, Iqbal Hasan Mahmud Tuku, visited petrol pumps in Dhaka’s Asad Gate area on Friday, March 6, 2026, following a sudden increase in fuel demand. The surge came amid rumors about supply disruptions and price hikes linked to the ongoing war situation in the Middle East. During his inspection, the minister urged citizens not to purchase or store extra fuel, assuring that the country has sufficient reserves and that supply remains stable.

He emphasized that there is no reason for panic and that the government is closely monitoring the situation to ensure steady distribution. The minister also called on drivers and the general public to avoid spreading unnecessary fear regarding fuel availability. His visit aimed to raise awareness and counter misinformation circulating in the market.

Authorities reiterated that fuel supply across Bangladesh remains normal and that the government is maintaining constant oversight to prevent any artificial crisis.

Production at the Ghorashal-Polash Urea Fertilizer Factory in Narsingdi has been suspended due to the ongoing gas shortage in Bangladesh. The environmentally friendly plant, one of Southeast Asia’s major urea producers, stopped operations at 3 p.m. on March 4, 2026. The shutdown has sparked fears of fertilizer shortages during the peak Boro rice cultivation season. Built at a cost of about Tk 15,000 crore, the plant began operations in 2024 with a daily capacity of 2,800 metric tons of urea.

According to factory officials, the plant had been running at full capacity since its inauguration, producing 2,846 metric tons in the last 24 hours before closure. The facility requires 71–72 MMCFD of gas for continuous production but can operate with 52–53 MMCFD. Currently, about 525,000 metric tons of fertilizer remain in storage. Authorities have not confirmed when production will resume, as gas supply remains uncertain.

The factory management expressed hope that gas supply will be restored soon to resume production and maintain timely loan installment payments derived from fertilizer sales.

State Minister for Energy Anindya Islam Amit announced that Bangladesh will introduce a rationing system for fuel sales starting Sunday to prevent long-term energy shortages. He said written instructions will be sent to petrol pumps, following his inspection of a station in Paribagh on Friday. The minister emphasized that the government has sufficient fuel reserves and urged the public not to panic.

Amit explained that public concern over fuel availability is understandable given the ongoing war situation, but assured that there is no reason for alarm. He noted that fuel supply had been increased several times in recent days and that consumers were purchasing more than usual. The government, he said, is working to minimize public hardship.

The minister added that global fuel prices have risen sharply, creating pressure on the domestic market. While the government will try to avoid price hikes, he said any unavoidable adjustments will be shared transparently with citizens, seeking their understanding and support.

The Kremlin said on Friday that the ongoing United States-Israeli war on Iran has led to a significant rise in global demand for Russian oil and gas. The announcement came a day after the US Treasury granted India a 30-day waiver to purchase Russian oil stranded at sea. The conflict, now in its seventh day, has nearly closed the Strait of Hormuz, cutting off access to about one-fifth of global oil and liquefied natural gas supplies. Kremlin spokesman Dmitry Peskov said Russia remains a reliable supplier capable of maintaining all contracted deliveries but declined to disclose potential export volumes to India.

International Energy Agency Executive Director Fatih Birol warned that turning back to Russian gas would be economically and politically misguided, emphasizing Europe’s past overreliance on Russian energy. European Commission President Ursula von der Leyen pledged to present options to address rising energy prices at an upcoming EU summit. Meanwhile, Qatar’s Energy Minister Saad al-Kaabi told the Financial Times that Gulf producers may halt exports if the conflict persists, potentially driving oil prices to $150 a barrel and gas to $40 per million British thermal units.

Benchmark US crude rose 4.1 percent to $84.36 per barrel, while Brent crude climbed 1.7 percent to $87, nearing its highest level since April 2024.

The United States has granted India a temporary waiver allowing it to increase imports of Russian oil, reversing months of pressure on New Delhi. The license, issued late Thursday, permits transactions for Russian crude and petroleum products loaded before March 5, provided they are delivered to India and purchased by Indian firms. The waiver expires on April 4 at 12:01 a.m. Washington time. US Treasury Secretary Scott Bessent said the 30-day measure aims to keep oil flowing into global markets without providing significant financial benefit to Russia.

The decision comes as escalating conflict in the Persian Gulf disrupts energy flows, threatening supplies to major importers. The move offers immediate relief to India, one of the economies most affected by the turmoil, by allowing refiners to secure stranded Russian cargoes and stabilize operations. It also represents a policy shift by the Trump administration, which had previously imposed tariffs and sanctions to curb India’s Russian oil purchases.

Analysts noted that while the waiver is short-term, it could reshape Russian crude pricing and trade flows in the coming weeks as competition for supply intensifies.

The Bangladesh Petroleum Corporation (BPC) has set daily fuel purchase limits for vehicles across the country following global energy supply disruptions caused by attacks in Iran. In a notice issued on March 6, 2026, BPC said the measure aims to prevent panic buying and ensure stable fuel distribution. Motorcycles can buy up to 2 liters of petrol or octane per day, private cars 10 liters, SUVs and microbuses 20–25 liters, pickups and local buses 70–80 liters, and long-distance buses and trucks 200–220 liters of diesel.

BPC explained that about 95 percent of Bangladesh’s fuel is imported, and recent global instability has delayed some shipments. Reports of hoarding and excessive withdrawals by dealers and consumers prompted the new restrictions. Filling stations must issue receipts showing quantity and price, and buyers must present previous bills for repeat purchases. Dealers are required to follow quotas and report depot stock and sales data.

BPC assured that fuel imports and nationwide distribution continue regularly and that sufficient buffer stocks will be built soon. It warned that selling fuel above government-fixed prices is a punishable offense.