Colombo, March 1 Sri Lanka police on Sunday warned the public against attempts by individuals to hoard fuel, given the current volatile situation in the Middle East.
The police stated that they had observed attempts to stockpile fuel out of panic buying, even though the state-owned fuel entity, Ceylon Petroleum Corporation (CPC), had assured that sufficient stocks were available and there was no need for panic buying.
Long queues were observed outside fuel stations since Saturday night, hours after the news of the joint US-Israeli action against Iran broke.
In a statement, the police said that all police stations have been alerted to take appropriate action against individuals collecting fuel in cans and barrels.
Fuel retailers have also been instructed not to dispense fuel to people bringing in containers.
"We have observed attempts to fill barrels for the illegal resale of fuel. Legal action will be taken against those trying to resell fuel collected in this manner," said DJ Rajakaruna, the chairman of CPC.
Rajakaruna stated that the country had enough fuel stocks to last until April-May, and therefore, there was no need to queue up at retailers for panic buying.
Earlier on Saturday, the US and Israel launched joint strikes on Iran, including attacks on "dozens of military targets" as part of a "wide, coordinated, and joint offensive" against the (Iranian) regime, which escalated tensions in other Gulf countries.
Experts have warned that the conflict could disrupt global fuel markets if Iran chooses to make the Strait of Hormuz, a vital maritime channel through which around 20 per cent of the world's traded oil passes, unsafe.
