Minister of State for Power and Energy, D.V. Chanaka, provided a reassuring update on Sri Lanka's fuel supply situation, ensuring that there will be no fuel shortages until June of the upcoming year. He revealed that the necessary tenders for fuel imports during this period have been successfully awarded and executed, providing a stable fuel reserve for the nation.

Speaking at a news conference held at the Presidential Media Centre, Minister Chanaka shared critical insights into the country's energy supply and procurement strategy. The decision to engage China's Sinopec company in supplying fuel to Sri Lanka is anticipated to yield substantial benefits, saving the nation over $500 million in foreign exchange annually.

This strategic move aligns with Sri Lanka's ongoing efforts to optimize resource allocation and reduce dependency on expensive foreign imports. The collaboration with Sinopec marks a significant milestone in Sri Lanka's endeavor to secure a reliable and cost-effective fuel supply.

Furthermore, Minister D.V. Chanaka acknowledged that the recent conflict in the Gaza Strip has had a global impact on fuel prices. Prices for various fuel types have surged by approximately 4% in the world market, raising concerns about the potential economic ramifications.