ECONOMYNEXT – Sri Lanka’s monthly fuel sales from retail distributors have been on the rise, the official data from Power and Energy Minister showed.
The total fuel sales through state run Ceypetco, India’s LIOC, and China’s Sinopec are on the rise and have peaked monthly higher in March, signaling a possible recovery of the battered economy that saw an unprecedented economic crisis and contractions.
“Fuel supply and demand has normalized since the Covid Pandemic and the Economic crisis,” Minister Kanchana Wijesekera said in his X (formerly Twitter) platform.
The monthly sales of auto diesel recorded 137, 927 Metric Tonnes (MT) in March, its highest since August 2023 when it recorded 147,586 MT, the data released by the Minister showed.
The monthly sales of widely used Octane 92 recorded 112, 545 Metric Tonnes (MT) in March, its highest since December 2023 when it recorded 113,078 MT.
The minister’s comments and data come after Sri Lanka Petroleum Distributors Association earlier this week said fuel consumption in the country has decreased by 50 percent, citing the economic situation in the country.
The Sri Lanka Petroleum Distributors Association also claimed that all fuel types are available in the country without any shortage due to the reduced consumption. (Colombo/April 13/2024)