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

The Ceylon Petroleum Corporation (CPC) has announced that fuel orders in Sri Lanka are currently about 10% higher than what is needed. However, the CPC warns that there will be no shortage if people do not hoard fuel. During the Ada Derana ‘Big Focus’ program, Dr. Mayura Neththikumarage, the Managing Director of CPC, confirmed that Sri Lanka has enough fuel reserves to last until at least mid-May. He pointed out that the issues being faced are not because of a lack of fuel, but due to hoarding and poor distribution management. Neththikumarage stated, “The real issue isn’t the availability of oil. When a ship arrives with 40,000 metric tons, it meets the demand for that amount. Diesel prices have previously increased by 150%, going from what should be 40 to 60. If people continue to buy more fuel than they need, there could be days when we run short.” He mentioned that the QR code system helps to manage fuel distribution and prevents shortages. “Monthly fuel needs are fully met. Small extra use by individual vehicles is not a major concern. Sri Lanka has enough reserves, and fuel will not run out. The main issue is hoarding. Some people have asked for 18 fuel vouchers when they should only take 3, claiming they need it for six months. We do not permit hoarding. Even if a few individuals store large quantities, the fuel for the next six months will still arrive gradually. Shortages may only happen if excessive hoarding disrupts daily distribution. Regular consumers will not experience any problems.”