CNG pumps across the country will remain closed for a good six hours -- from 5:00pm to 11:00pm instead of 6:00pm to 11:00pm daily during Ramadan.
The state-owned oil company Petrobangla issued a press release in regard on Wednesday.
Petrobangla's latest decision to extend the CNG pump closure timing by an hour during the holy month comes in the wake of the volatility in the global energy market caused by Russia's invasion of Ukraine.
Sources also told UNB that the ongoing energy crisis in several parts of the world, including Bangladesh, has forced the state-owned hydrocarbon corporation to issue the new instructions to the CNG pumps.
On September 16 last year, the government directed CNG outlet owners to keep their pumps shut for four hours from 6 pm to 10:00pm and then extended the timing by one hour from March 1.
Energy industry insiders say the country imports about 20 per cent of its gas at high cost as Liquefied Natural Gas (LNG) and re-gasify to supply the fuel to local networks.
For the past few months, the price of LNG in the global market witnessed a steep hike -- from $6 per MMBtu to over $30 per MMBtu.
“The recent war between Russia and Ukraine has created further volatility in the global market, which ultimately forced the authorities concerned to take such measures to reduce supply at CNG pumps,” said an energy industry insider.
