No fuel shortage despite Middle East crisis, assures Energy Minister

Colombo, June 18 (Daily Mirror) - Energy Minister Kumara Jayakody today urged the public not to create or circulate false information claiming there will be a shortage of petroleum products due to the ongoing crisis in the Middle East.

Speaking at a media briefing, the Minister said issuing of fuel in bottles and cans remains illegal and warned that private stockpiling, driven by unnecessary fear, could create avoidable problems. 

He noted that fuel distributors have already been advised on this matter.

“There are sufficient petroleum stocks for the next two and a half months. All procurement processes have been completed, and agreements are in place to ensure uninterrupted supply until December. The crude oil requirements for the Sapugaskanda Oil Refinery have also been secured until then,” Minister Jayakody said.

He further assured that the government is managing the situation prudently and has already refrained from importing oil from countries directly involved in the Middle East conflict. 

“The majority of our petroleum purchases are from nations outside the affected region,” he added.

Commenting on fuel pricing, the Minister reminded that prices are reviewed at the beginning of each month based on global market rates. 

“We always aim to provide fuel to the public at the most affordable price. Prices depend on two factors, international oil prices and the costs of transportation, storage, distribution and the profit margin maintained by the Ceylon  Petroleum Corporation. As a people’s government, we work to minimise or waive profits to give relief to the public,” he added.