Sri Lanka, March 12 -- In a bid to ward off a possible fuel-related crisis due to the widening conflict in the Gulf, the government, through the Ceylon Petroleum Corporation (CPC), is in talks with India and China for oil purchases, an official said.

Oil prices reached almost US $120 a barrel on Monday amid fears that the conflict would cause lengthy disruption to energy supplies from the Middle East, but dropped back to around $93 yesterday.

The price of oil has fallen sharply after U.S. President Donald Trump said that the war involving Iran would come to an end "very soon."

However, Sri Lanka is bracing for any eventuality in case an emergency occurs.

An official of the CPC told the Daily Mirror that discussions had been initiated...