Bangladesh’s National Security Intelligence (NSI) has asked the government to investigate allegations that five major liquefied petroleum gas (LPG) companies have withheld imported supplies, potentially creating an artificial shortage in the market.
In a report submitted to the Ministry of Power, Energy and Mineral Resources on Thursday, the intelligence agency named five leading LPG companies — iGaz, Omera, Petromax, BM Energy and Jamuna — and recommended examining whether some imported consignments had been deliberately held back since around 22 September.
The report comes amid concerns over rising LPG prices in different parts of the country. Although the Bangladesh Energy Regulatory Commission (BERC) fixed the retail price of a 12-kilogram LPG cylinder at Tk 1,585 in September, consumers in several areas have reportedly been paying more than Tk 2,000.
The NSI report stated that available import data does not indicate a clear nationwide supply shortage. Instead, the agency suggested that a portion of imported LPG may have remained outside the regular supply chain due to delayed market release.
State Minister for Power, Energy and Mineral Resources Iqbal Hasan Mahmud confirmed receiving the intelligence report and said the government was reviewing the matter.
According to government figures cited by the NSI, Bangladesh imported around 158,000 tonnes of LPG in September, compared with nearly 157,000 tonnes in August. The figures are also consistent with information provided by the LPG Operators Association of Bangladesh (LOAB), which said the country’s LPG imports remained at a satisfactory level and September’s supply was sufficient to meet demand.
The intelligence agency has called for a swift investigation into whether LPG consignments were intentionally withheld before the recent price increase. The report noted that the price of LPG rose by around US$64 per tonne from October, and the timing of the increase coincided with the period when some consignments were allegedly kept back.
The NSI recommended determining whether any imported LPG was stored before the price adjustment and released later at higher prices. It also suggested examining whether importers or other market players delayed releasing supplies to gain additional commercial benefits.
The agency warned that if such practices occurred, reduced market availability could contribute to price increases. Rising LPG costs are already creating pressure on businesses that rely on the fuel, with the additional burden eventually affecting consumers.
The NSI has advised the government to verify whether the current stock levels held by companies are consistent with normal business requirements and actual market demand. It has also recommended maintaining detailed records of every shipment, including arrival dates, unloading schedules, stock quantities and market release dates.
The agency further proposed an emergency review of LPG stocks held by major importers since 22 September. The review would identify how much LPG imported before the October price adjustment had remained unreleased even after the price change.
Until the market situation stabilises, the NSI has suggested daily monitoring of LPG imports, storage levels and market distribution. It has also recommended prompt action if any irregularities are detected in the supply chain.
The government has been advised to ensure that imported LPG reaches the market in sufficient quantities to prevent excessive stockpiling and disruptions to normal distribution channels.
Meanwhile, LOAB has instructed its member companies, distributors, dealers and retailers to sell LPG cylinders at the prices set by BERC. In a statement issued on Thursday, the association said LPG imports remained adequate and there was no reason for an artificial shortage.
LOAB also warned that selling LPG above BERC-approved prices or storing the product without proper authorisation would constitute a violation of regulations. Action could be taken against operators, distributors, dealers or retailers involved in such activities.
The government has also moved to strengthen market monitoring. LOAB said that during an online meeting on 30 September, the state minister instructed district administrations to closely observe LPG market conditions.
LOAB said it would continue working with government authorities and law enforcement agencies to protect consumer interests and maintain market stability.
Omera Petroleum, one of the companies named in the NSI report, has denied allegations that it withheld consignments to reduce market supply. Its Chief Executive Officer Tanzim Chowdhury said ensuring uninterrupted LPG supply in Bangladesh has always remained the company’s priority, even during periods of market uncertainty.
A senior official of another company mentioned in the report also rejected the allegations, saying that the movement of each shipment is properly documented. He added that the company would provide necessary records if requested by the authorities.
The government’s investigation will now focus on supply chain transparency, stock management practices and whether any unusual activities contributed to the recent rise in LPG prices.
