May 26, Colombo (LNW): Sri Lanka currently holds adequate fuel reserves to meet national demand through the end of July, according to the Ceylon Petroleum Corporation (CEYPETCO), which has moved to reassure the public amid growing speculation over possible price adjustments.
CEYPETCO Managing Director Dr Mayura Neththikumarage said the country’s fuel supply position remains stable, with additional crude oil shipments expected to arrive on May 28 and 31.
He noted that all scheduled deliveries for the current month have already reached Sri Lankan ports, helping to maintain a comfortable stock buffer.
In response to recent concerns circulating in the market, he stated that there are no immediate plans to raise fuel prices, while also indicating that a price reduction is unlikely in the near term given prevailing global market conditions.
The announcement comes after reports prompted increased activity at fuel stations, with some consumers rushing to fill tanks amid fears of an impending price hike. Authorities, however, have stressed that such concerns are unfounded at this stage.
Dr Neththikumarage further explained that international diesel prices, which had risen in April, are now showing a gradual downward trend. This, he said, has eased earlier expectations of a significant upward revision in domestic fuel prices.
He added that the arrival of upcoming crude shipments will strengthen supply stability in the months ahead, reducing pressure on the country’s import-dependent energy sector. For now, officials maintain that fuel distribution remains uninterrupted and sufficiently stocked to meet nationwide demand.