Sri Lanka govt says enough fuel stocks available

Dec 19, 2008 (LBO) – Sri Lanka’s state-owned Ceylon Petroleum Corporation has enough stocks and it is continuing to supply fuel stations, a minister said, while a court directive to cut prices remains to be implemented. Information minister Anura Yapa said the CPC is sending 160 fuel bowsers to fuel stations island-wide.

This should help eliminate the current fuel shortage, he told a news conference.

Some fuel stations ran out of stocks following a Supreme Court order Wednesday to cut the petrol price from 122 to 100 rupees.

The court order was given in response to a public interest petition demanding consumers be given the benefit of global oil price reductions.

But the order was not implemented on either Wednesday or Thursday following two meetings of the cabinet of ministers and retail outlets ran out of fuel as dealers refrained from ordering fresh stocks fearing an imminent price cut.

But Yapa said the CPC will bear any losses suffered by retail outlets owing to a price reduction.

Yapa said he was unable to comment on the Supreme Court order to reduce petrol prices to 100 rupees a litre.

Instead he referred to a government statement that said the cabinet had decided Thursday not