Bangladesh has taken emergency steps to conserve energy to reduce fuel consumption, as fears grow over the economic fallout of the ongoing US-Israeli war on Iran.
According to Reuters, the Bangladeshi government ordered the closure of all public and private universities starting Monday as part of a broader plan to save electricity and fuel. The directive was issued by the Ministry of Education and aligns with the upcoming Eid-ul-Fitr academic break. Authorities believe that temporarily shutting down universities will reduce electricity usage because campuses consume a significant amount of power for classrooms, laboratories, offices, and residential halls.
Bangladesh’s reliance on imported fuel
The move came amid growing concerns that the conflict in West Asia, particularly tensions involving Iran, Israel, and the US, could disrupt global energy supplies. Bangladesh relies heavily on imported fuel and gas to meet its energy needs, making it particularly vulnerable to international market fluctuations. With the possibility of supply shortages and price spikes, the government has begun implementing austerity measures to stabilise the country’s energy system.
‘Use fuel wisely’
In addition to closing universities, authorities have urged citizens to reduce unnecessary travel and use fuel sparingly. The government has also advised people to rely more on public transportation and minimise electricity consumption wherever possible. These measures aim to curb fuel demand and prevent panic buying that has reportedly occurred at petrol stations in the capital, Dhaka, where long queues of vehicles formed amid fears of shortages.
The energy situation has already begun affecting several sectors of the economy. Severe gas shortages have forced the government to shut down four of the country’s five state-run fertilizer plants so that the available gas can be redirected to power generation. Bangladesh has also started purchasing more expensive liquefied natural gas (LNG) from the global spot market to bridge the supply gap, Reuters reported.
Global energy markets have been volatile due to the ongoing conflict, with oil prices surging sharply amid fears of supply disruptions, particularly around key shipping routes in the Middle East. Rising prices and uncertainty have prompted governments worldwide to consider emergency measures, highlighting how geopolitical tensions can quickly impact energy-dependent economies.