CPC warns of stricter fuel quota enforcement amid rising import costs

Sri Lanka
By Editor_1
Weekly fuel allocations per vehicle category have been capped at 60 litres for buses, 5 litres for motorcycles and quadricycles, 15 litres for motor cars, 40 litres for vans and special purposes vehicles, 200 litres for lorries, 25 litres for land vehicles and 15 litres for three-wheelers – LNW/File

COLOMBO – The Ceylon Petroleum Corporation (CPC) has announced plans to tighten enforcement of the national fuel quota (QR) system, warning that service stations that fail to comply with the regulations could lose access to subsidized fuel allocations.

CPC Chairman S. Rajakaruna made the announcement at a media briefing held at the corporation’s headquarters on Monday (June 1), citing mounting fuel import costs and growing concerns over the country’s foreign exchange outflows.

Rajakaruna said the government was paying close attention to reducing fuel consumption in light of rising global energy prices and ongoing geopolitical tensions in the Middle East, which have contributed to increased uncertainty in international fuel markets.

“Although the introduction of the fuel quota system has significantly reduced fuel consumption, it has not yet reached the level required to meet the country’s current economic needs,” he said.

According to the CPC Chairman, Sri Lanka’s expenditure on fuel imports has risen sharply in recent months. Fuel-related foreign exchange outflows stood at US$186 million in January and US$97 million in February, but surged to US$524 million by May.

He warned that the trend was becoming increasingly unsustainable and could place additional pressure on the country’s economy if corrective measures were not taken.

“If we fail to reduce the outflow of foreign exchange for fuel imports, it will not only result in higher fuel prices in the future but also have broader adverse consequences for the national economy,” Rajakaruna said.

As part of efforts to curb fuel consumption, the CPC and the Ministry of Digitalization will jointly implement stricter monitoring and enforcement of the existing quota system in the coming months.

Rajakaruna said fuel subsidy allocations currently provided to service stations would be withdrawn from outlets found to be violating the quota regulations.

-ENCL

Editor_1
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