Ranil urges govt. to buy fuel stocks already in Colombo port before prices skyrocket

By Saman Indrajith

UNP leader Ranil Wickremesinghe yesterday (22) urged the government to purchase fuel shipments currently at the Colombo Port as soon as possible because the fuel and LNG prices in the global market would increase in the coming days owing to the Russia-Ukraine tensions.

Wickremesinghe, speaking in Parliament, noted that Russian forces entering into Ukraine would have an impact on fuel and LNG prices in the global market.

“Fuel and LNG prices in the global market will be increased in the coming days due to Russia-Ukraine tensions. A crude oil barrel would be priced at about USD 115. There are three fuel shipments at the Colombo Port at the moment. If we make payments now, we can purchase fuel stocks at previous prices. So, we have to find dollars to make payments for the shipments somehow. I do not know how to find the necessary dollars. But we have to do something regarding the matter. Otherwise it will affect us badly in the coming days,” he pointed out.

Wickremesinghe said that Sri Lanka would not be able to get adequate stocks of LNG as Europe had ordered large stocks from Qatar in view of the situation in Ukraine.

“With this situation, it would be better if Finance Minister Basil Rajapaksa could make a statement on Wednesday (23) before the Adjournment Motion of the Opposition is moved in the morning,” he said.