Fuel crisis is severe, says CPC Chairman Rajakaruna

2026-03-10 - 15:38

Chairman of the Ceylon Petroleum Corporation (CPC), D. J. Rajakaruna, stated today (10) that the current situation regarding fuel is not a normal one but a very serious crisis, and that collective action is required to address the issue. He made these remarks at a special media briefing held today (10) at the headquarters of the Ceylon Petroleum Corporation, convened to clarify matters regarding the recent increase in fuel prices. Mr Rajakaruna appealed to the public to reduce unnecessary travel and use fuel only for essential purposes. He noted that if fuel prices remain at the current level or continue to rise, the situation could become one that not only Sri Lanka but even the world would find difficult to cope with. He further stated that the public had earlier been requested not to panic as there is an adequate fuel supply. However, due to limited storage capacity, clear information had been provided regarding available fuel stocks together with the shipments that were confirmed to arrive this month. Mr Rajakaruna said that although it had been confirmed that oil supplies would be received from regions not affected by war, it had not been anticipated that fuel prices would increase by as much as 100 per cent in this manner. He added that fuel from the ships received this month is currently being distributed. He also noted that during the past week, fuel consumption had exceeded normal levels, with 59,200 metric tonnes of diesel and 47,500 metric tonnes of 92-octane petrol being used. According to him, the fuel that was expected to last until the middle of this month is already in the hands of the public. Mr Rajakaruna further stated that stocks of lower-priced fuel have now been exhausted, and that fuel shipments were received on the 1st and 7th of this month. As a result, the price of the fuel currently being issued will inevitably be higher. He added that although fuel prices are usually revised during the first week of the month, the sharp rise in prices under the extraordinary circumstances of war is also unusual. Mr Rajakaruna further stated that an amount of fuel equivalent to nearly two diesel tanker shipments had been consumed within the past nine days.