President Anura Kumara Dissanayake’s admission in Parliament on Tuesday (3) that Sri Lanka does not have sufficient long-term fuel storage facilities should not pass as just another statement in Hansard. It is a warning.
Fuel is still the most sensitive issue in this country. The economic crisis is not a distant memory. People remember the queues. They remember the anger, the uncertainty and the daily humiliation of not knowing whether they could get petrol or diesel. That experience changed public trust. Even today, the first sign of instability in the Middle East triggers that same fear.
The President has now confirmed that we do not have adequate storage to withstand a prolonged disruption. That is a serious vulnerability. Strategic fuel reserves are not optional for a country that imports almost all its petroleum needs. They are basic insurance.
We are once again watching tensions escalate in the Middle East, and we have no influence over global oil markets. We cannot control war or peace. But we can control our level of preparedness. If we lack sufficient reserves after everything this country went through in 2022, then something has gone wrong in our planning.
This Government came to power promising energy security. That promise helped build public confidence. Energy security means more than managing day-to-day supply. It means building storage capacity, diversifying sources and reducing long-term dependence on imported fossil fuels.
There should be a clear plan and a timeline to expand fuel storage. We must analyse how many additional days of reserves we should be targeting. These are straightforward questions. The public deserves straightforward answers.
At the same time, fuel storage alone will not solve the structural problem. As long as we rely heavily on imported oil for power generation and transport, we remain exposed. Every geopolitical crisis becomes a domestic economic threat.
That is why renewable energy is not a luxury. It is a necessity.
If Sri Lanka is serious about long-term energy security, then policy reform in this area should be moving quickly and transparently.
Instead, what many households saw was a reduction in the per-unit tariff paid for rooftop solar. Whatever the fiscal justification, the signal it sent was discouraging. People who were ready to invest in rooftop solar systems began to rethink their plans. When policy direction appears uncertain, investment slows.
This is not just about individual households. Every rooftop solar installation reduces pressure on the national grid. It reduces fuel imports. It reduces foreign exchange outflows. At scale, it makes the country more stable. If the national grid is outdated and cannot sustain the addition of solar power, the answer is not to curtain solar generation but to upgrade the grid.
The lesson we need to learn from all these experiences is that we cannot keep reacting to crises. We must build systems that reduce our exposure to them.
Sri Lanka is a small economy with limited buffers. A sharp rise in oil prices affects transport, electricity, food prices and overall inflation. It affects government finances. It affects growth. We have already seen how quickly economic stress can escalate into social and political instability.
The current global situation should be treated as a test. Have we learned from the last crisis or not?
Energy policy must now be direct and disciplined. First, expand and modernise fuel storage capacity with clear public targets. Second, fast-track renewable energy reforms and remove policy uncertainty. Third, provide consistent incentives that encourage households and businesses to invest in alternative energy rather than hesitate. This is not about ideology. It is about resilience.
The President’s statement was honest. But honesty alone is not enough. The public does not want reassurance. It wants results.
Sri Lanka cannot afford to remain this exposed to external shocks. We cannot keep depending almost entirely on fossil fuels in a world that is unstable and unpredictable. We cannot wait for the next crisis to expose the same weaknesses.
Energy security was a promise. It must now become a measurable reality.