Fuel consumption in Sri Lanka has been reduced by approximately 50% according to the Petroleum Dealers Association.
Mr. Shelton Fernando, the president of the association, points out that fuel consumption has been a significant factor in the decline in the country’s current economic situation.
However, Mr. Fernando assured the people that there is currently no shortage of all types of fuel in the country.
Previously, only Ceylon IOC and the government-owned Ceypetco company existed for the sale of fuel in the country.
However, as a solution to the economic crisis, the government has given the opportunity to several private companies including Sinopec and Shell for the import, distribution and sale of fuel in addition to the above two companies to carry out operations in the country.
Currently, Sinopec and Shell companies have started importing and selling fuel in Sri Lanka.