They say there is fuel until November.

The Ceylon Petroleum Corporation (CPC) officially assures that there will be no fuel shortage of any kind in Sri Lanka until the upcoming November. Dr. Mayura Nettikumarage, the Managing Director of the Corporation, stated that all necessary Letters of Credit (LCs) for obtaining the required stocks to continuously meet the island-wide fuel demand have already been opened and finalized.

The Ceylon Petroleum Corporation (CPC) points out that as ordered fuel stocks are currently arriving in the country, there are sufficient fuel reserves for the country's consumption until the upcoming July. Additionally, two crude oil tankers, each carrying 90,000 metric tons, are scheduled to arrive on the island on May 28th and 31st. Local fuel companies have also placed their required distribution orders, and arrangements have been made to obtain additional fuel stocks from several suppliers, including Singapore and India.

The Managing Director emphasizes that news circulating on social media about a fuel shortage and claims of long queues at filling stations are completely false. Therefore, the public should refrain from panicking unnecessarily and hoarding fuel, and should only purchase the quantities required for their daily needs. Furthermore, the current QR code system, which issues fuel based on the last digits of vehicle license plates, will continue without any hindrance as usual.

Due to the significant increase in crude oil prices in the world market from US$ 80 to US$ 150 per barrel, attention is currently focused on implementing a price revision on May 31st. Amidst the ongoing geopolitical crises, the country's monthly fuel import cost, which was recorded at US$ 152 million last December, has significantly increased to US$ 521 million by May. However, the Ceylon Petroleum Corporation (CPC) further confirms that all payments for the fuel stocks obtained by the country to date have been settled, leaving no outstanding arrears.