• Energy Min. claims fuel shortage is ‘fake’ news, says CPC in possession of stocks for 2 months with arrangements made to procure shipments

While global fuel prices have increased due to the escalation of the ongoing conflict between Israel and Iran, the Fuel Distributors’ Association (FDA) has raised concerns about the possible impact of the situation on domestic fuel price revisions in the coming months.

Speaking to The Daily Morning yesterday (17), FDA Vice President Kusum Sandanayaka said that a price hike can be expected in the next fuel price revision, although no increase is required at the moment. He also mentioned that the current fuel stocks are sufficient for one or two months. “Usually, countries like ours purchase fuel for a month or a few weeks. Therefore, a sudden increase will not take place. However, when the next order is placed, we will have to face a price rise due to several factors, such as increased shipping costs. But, we can assure that no shortage will occur,” he said.

Meanwhile, in response to ongoing media reports, the Minister of Energy has urged the general public not to be misled by ‘fake news’ about a purported fuel shortage. Issuing a statement, the Energy Ministry noted that a number of misleading reports are circulating at present, especially on social media, suggesting that a fuel shortage may occur in the country due to the conflict in the Middle East. The ministry assured that the Ceylon Petroleum Corporation (CPC) currently holds sufficient fuel stocks for the next two months, and that necessary arrangements have been made to procure upcoming fuel shipments without any issues. Therefore, the ministry has requested the public not to be deceived by such reports.

Furthermore, Cabinet Spokesperson Minister Dr. Nalinda Jayatissa has also urged the public not to be misled by social media posts claiming an impending fuel shortage in the country due to the ongoing Israel-Iran conflict. Responding to concerns circulating online, he assured that Sri Lanka currently has adequate fuel reserves to meet the national demand for at least two and a half months and therefore urged the public not to be misled by such claims.

The ongoing conflicts in the Middle East have a direct impact on global oil markets, as the region is a key supplier of crude oil. According to stakeholders, disruptions in oil production or transport routes due to tensions or military actions will lead to uncertainty and reduced supply globally, which in turn drive up global fuel prices.