SriLanka, Oct. 7 -- The recent fuel queues across the country were caused by private petroleum companies reducing their daily fuel release and panic buying triggered by false reports on social media, while there is no shortage of fuel in the country, Ceylon Petroleum Corporation (CPC) Chairman D. J. A. S. De S. Rajakaruna said yesterday.

Addressing the media, Rajakaruna said private petroleum companies had reduced their daily fuel supplies, citing losses incurred by them, forcing the CPC to increase its own daily fuel releases to bridge the resulting supply gap.

He said the CPC had increased its daily diesel issuance from 3,074 metric tons to 3,900 metric tons to meet the shortfall created by reduced supplies from private companies.

"T...