Do Not Panic or Spread Fear about an Oil Shortage amid the Middle East Crisis
Minister of Energy, Engineer Kumara Jayakody
“There are sufficient fuel stocks to last for the next two and a half months. All procurement processes have been finalized and contracts have been signed until December. The supply of crude oil required for the Sapugaskanda Oil Refinery has been ensured until December. Therefore, there is no way an oil crisis or shortage will happen in the near future. The government is attending to this matter with careful consideration and foresight. Currently we are not importing oil from countries involved in this crisis. Also, the majority of purchases are still being made from countries outside the conflict zone”, said Minister Eng. Kumara Jayakody, while participating in a press conference held at the Department of Government Information in Narahenpita regarding the country’s petroleum supply amidst the war situation in the Middle East.
Responding to a question raised by a journalist on whether oil prices may increase in the future, the Minister stated: “oil prices are revised at the beginning of every month. It is based on international market prices. We always attempt to provide oil to the public at the lowest cost. When it comes to oil prices, there are only two variables. First, cost of transporting oil to the country, and second, the storage and distribution costs along with the profit margin retained by the Ceylon Petroleum Corporation. As a people centered government, we are always committed to providing relief to the public by managing oil distribution with little to no profit,” He further added.
The Minister further stated that it is illegal to dispense oil into barrels and cans. He also added that privately storing oil out of unnecessary fear may lead to problems, and that filling stations where oil is distributed have been informed in this regard.
The Minister, together with senior officials from the Ceylon Petroleum Corporation, participated in the press conference.