- Claims CPC holds 55,000 MT of petrol
- Increase in fuel quota, drop in orders, long weekend blamed for queues
Preliminary investigations into a fuel shortage at the pump have identified that 121 fuel stations have not placed any orders for resupply between 27 and 30 May, while many others have not placed adequate orders to replenish stocks, according to Minister of Power and Energy Kanchana Wijesekera.
Wijesekara, who initially denied that there was a fuel shortage, particularly for octane 92 petrol, yesterday (3) took to Twitter to name and shame 121 fuel stations which had not placed orders for replenishment a few days before the price change on 1 June.
Meanwhile, the Ceylon Petroleum Corporation (CPC) holds approximately 50,000 MT of 92 octane petrol in its storage and there is no shortage of fuel stocks in the island, CPC Chairman Mohamed Uvais Mohamed told The Sunday Morning yesterday (3).
The CPC Chairman blamed an increase in the fuel quota, a drop in purchases by fuel station owners, and panic buying for the long queues at the pumps observed over the last three days.
According to Mohamed, the shortage of 92 octane fuel in many parts of the island is due to fuel station owners not placing orders for refills during the last few days of May and due to the increase in the fuel quota for vehicles which run on petrol.
“We have more than 50,000 MT of 92 octane petrol in storage, so there is no shortage in the country and I urge motorists not to make panic purchases,” Mohamed told The Sunday Morning.
“We have increased the fuel quota by 50% and the price of 92 octane petrol has also come down, which led to a high demand. The long weekend also pushed many consumers to fill up. Further, fuel station owners knew that the price would go down, so they did not order on time. They are only placing orders now. With a rush of orders, we are also under strain to dispatch consignments as quickly as possible. The issue is being managed and by Sunday (4) the supply issue will be resolved,” Mohamed explained.
He stressed that panic buying would only make the situation more difficult to manage, urging motorists not to pay heed to rumours.