No fuel shortage till next April: CPC Chairman

Colombo, October 1 (Daily Mirror) - There will be no shortage of fuel till next April, as the Ceylon Petroleum Corporation (CPC) has planned and placed all necessary orders for fuel, Ceylon Petroleum Corporation Chairman D.J. Karunarathne said.

Addressing the media, he said that future plans to maintain sufficient fuel stocks will be scheduled on a weekly basis.

"The CPC is aiming to develop the refinery sector for a more efficient fuel supply. The recent fuel price revision was carried out according to the existing price formula, and the CPC plans to improve the formula to provide more concessions to the public," he said.

The Chairman also mentioned that he hopes to hand over the regulatory commission to ensure that decisions on fuel price revisions are made more transparently.

He said that having a fuel price revision is important. 

"We cannot reduce fuel prices for stocks imported by other parties, and it is not feasible to offer large fuel concessions in a short period after the new government has come to power. The recent fuel price revision was done according to the existing formula and legal framework," he said.

The Chairman further added that the President is not willing to grant large concessions at once, which could lead to the forming of queues.