CPC confirms sufficient fuel supply until mid-May, warns against hoarding

The Ceylon Petroleum Corporation (CPC) has revealed that fuel orders for the country currently exceed actual requirements by around 10%. However, the corporation stressed that there is no risk of a shortage if emergency stockpiling is avoided.

Speaking during the Ada Derana ‘Big Focus’ program, Dr. Mayura Neththikumarage, the Managing Director of CPC stated that the country has adequate fuel reserves to meet demand at least until mid-May. He emphasized that the current challenges are not due to a lack of fuel, but rather to hoarding and mismanagement of distribution.

“The real issue isn’t the availability of oil,” Neththikumarage said. “If a ship carrying 40,000 metric tons arrives, it fills the demand gap of 40,000. In the past, diesel prices rose by 150%, and what would normally be 40 became 60. If this over-purchasing increases further, there could be days when fuel runs short in the country.”

He highlighted that the QR code system ensures proper allocation and prevents widespread shortages. “Monthly fuel consumption needs are fully met. Minor overuse by individual vehicles does not create a significant problem. The reserves in Sri Lanka are sufficient, and fuel will not run out. The main problem is when people hoard fuel. Some requested 18 fuel vouchers when normally they should only take 3. They claimed they needed it for six months. We don’t allow such hoarding. Even if a few people store large amounts, the fuel allocated for six months will still arrive gradually. The only time shortages may appear is if someone hoards excessively, affecting daily distribution. For ordinary consumers, there will be no disruptions.”