Energy Minister Kumara Jayakody assured the public that there is no risk of a petroleum shortage in the coming months, despite rumours triggered by escalating tensions in the Middle East.
Speaking at a press conference held at the Government Information Department in Narahenpita, Minister Jayakody confirmed that the Ceylon Petroleum Corporation (CPC) has completed its procurement process and signed agreements securing oil supplies until December. Current reserves are sufficient to meet national demand for at least two and a half months, he said.
“The supply of crude oil for the Sapugaskanda Refinery is fully confirmed until the end of the year. Therefore, the public should not fear an oil crisis,” the Minister stated.
He further clarified that Sri Lanka does not rely on oil imports from countries currently involved in the Middle East conflict, and that the majority of purchases are from suppliers outside the conflict zone.
Addressing potential price hikes, Minister Jayakody explained that fuel prices are reviewed at the beginning of each month, based on global oil prices. “Our aim is always to provide fuel to the public at the lowest possible cost. Price changes are driven solely by international market trends and essential local factors like transportation and distribution,” he said.
The Minister emphasised that the Government does not seek profit from fuel distribution and often operates on minimal or zero profit margins through the CPC to ease the burden on the public.
Meanwhile, the CPC issued a warning that selling fuel in bottles or cans is illegal, and cautioned the public against stockpiling oil unnecessarily, which could lead to logistical challenges. Oil distributors have been instructed accordingly.
The press conference was also attended by senior officials of the Ceylon Petroleum Corporation.
