Bangladesh limits fuel sales as Middle East tensions trigger panic buying

Bangladesh ⁠has set daily fuel purchase limits after panic buying and stockpiling caused worries over supply amid the Middle East conflict affecting global energy markets.

The restrictions come after US and Israeli airstrikes on Iran, followed by Tehran’s retaliatory strikes in the region, which disrupted ‌oil shipments through the Strait of Hormuz, a ⁠vital energy corridor, pushing energy prices higher, Caliber.Az reports via French media.

Bangladesh Petroleum Corporation, the state-owned importer and distributor, said the controls aim to restrain excessive demand, calm the public and keep nationwide stocks stable.

"Fuel ⁠oil is essential for the country's development, but about 95 percent of it must be imported," it added, noting that global instability has occasionally delayed shipments.

By Jeyhun Aghazada