Due to panic buying, the Ceylon Petroleum Corporation (CPC) has released 2,325,349 liters of diesel and 2,904,000 liters of petrol this morning by 9:44 a.m, Chairman D.J. Rajakaruna said.
CPC yesterday issued 3,018,349 liters of diesel and 3,920,400 liters of petrol, he said.
Addressing a special government media briefing, Rajakaruna said increased demand had led to temporary shortages at some filling stations.
He said police have also intervened to restore normalcy, alleging that racketeers were attempting to exploit the situation, causing inconvenience to regular consumers.
He reiterated that fuel will not be dispensed into cans or canisters and urged the public to report such incidents.
Rajakaruna stressed that Sri Lanka has sufficient fuel stocks despite concerns stemming from the escalating war in the Middle East.
He said petrol stocks are sufficient for 37 days, with supplies sourced through shipments from India, Singapore and South Korea.
Diesel stocks are adequate for 35 days, while super diesel, following a fresh shipment which is expected to last for 72 days.
Jet fuel stocks are sufficient for 47 days, he said.
He added that finished petrol and diesel products will not be directly affected by the ongoing war in the Middle East.
Crude oil stocks are currently sufficient for 26 days, Rajakaruna said, adding that a new shipment expected on March 11 will ensure supply for a further 48 days.
Responding to criticism that authorities were not adequately prepared, Rajakaruna said Sri Lanka has historically not developed long-term fuel storage capacity.
“Our present capacity to store diesel is only for 32 days, while 92 octane petrol can only be stored for 27 days. Jet fuel can only be stored for 11 days if the refinery ceases operations,” he said.
He added that maximum available stocks are currently being maintained.
Asked whether the QR-based fuel quota system would be reintroduced, Cabinet Spokesperson Minister Nalinda Jayatissa said the mechanism was implemented at a time when fuel stocks were insufficient in the country to regulate consumption.
He said the current situation does not warrant such measures, noting that adequate fuel stocks are available. The present disruption, he said, is the result of panic buying, which authorities expect to subside within the next few days, he said. (Newswire)