Sri Lanka to retain QR fuel system indefinitely amid global oil uncertainty

Fuel supplies sought from India, China, and Russia to maintain adequate stocks

Strait of Hormuz instability disrupts nearly 20% of global fuel supply routes

QR system to be modified based on future developments and demand     

By Kelum Bandara 

Against the backdrop of fluctuating global fuel prices, Sri Lanka has decided to continue with the QR code system for the rationalisation of fuel distribution indefinitely, an official said. 

In the wake of the escalation of the Middle East conflict, the Sri Lankan government reintroduced the QR code system as a fuel-saving measure. 

Currently, the volatile situation in the Strait of Hormuz, a narrow passage responsible for nearly 20 per cent of global fuel transportation, has disrupted supply chains, leading to price fluctuations. 

Asked about the future of Sri Lanka’s fuel market under evolving global circumstances, Chairman of the Ceylon Petroleum Corporation (CPC), D.J. Rajakaruna, said the global crisis is far from over. 

He said Sri Lanka would continue retail fuel distribution under the existing QR code system indefinitely. 

Sri Lanka has ensured the availability of fuel in the domestic market despite global supply disruptions. However, Mr Rajakaruna said the current QR code system would be modified when necessary. 

“We want to move towards digital transformation in payments. We will also revise the quantity of fuel issued for different categories of vehicles depending on developments. Fuel subsidies for various sections of society will also be considered. For all these purposes, the QR code system will be maintained in the long term,” he said. 

The government has sought fuel supplies from India, China, and Russia to maintain adequate stocks in view of a potential crisis.