March 22, Colombo (LNW): A new consignment of diesel is due to reach the country later this week, as authorities move to stabilise fuel supplies amid mounting financial strain and volatile global prices.
Cabinet Spokesman and Minister Dr Nalinda Jayatissa confirmed that a vessel transporting around 37,000 metric tonnes of diesel is scheduled to dock on March 25.
He noted that this delivery follows closely on the heels of a similarly sized petrol shipment received earlier in the month, underscoring the government’s ongoing efforts to maintain adequate reserves.
Addressing a media briefing, the Minister pointed out that frequent import cycles have become necessary due to unpredictable fluctuations in international fuel markets. According to him, such instability has made it increasingly difficult to manage pricing and supply in a consistent manner.
He also drew attention to the financial difficulties faced by the Ceylon Petroleum Corporation, which continues to operate at a loss despite recent price adjustments. While fuel prices were revised upwards on March 21, the government is still absorbing a considerable share of the actual cost in a bid to cushion the public from the full impact.
Officials estimate that subsidies currently amount to roughly Rs. 100 per litre of diesel and around Rs. 20 per litre of petrol. This support translates into a monthly fiscal burden of approximately Rs. 20 billion, raising concerns about the sustainability of such measures if global prices remain elevated.
Authorities say further decisions will depend on market conditions in the coming weeks, as they attempt to balance economic pressures with the need to ensure uninterrupted fuel supplies.