He was released on two sureties of Rs. 1 million each by Colombo Additional Magistrate Lochani Abeywickrema today.
The CID arrested him yesterday at his residence in Wattala following a complaint.
He told the media recently that the stock of diesel in hand would suffice only for 11 days, while petrol would be sufficient for 10 days.
Police said the Ceylon Petroleum Corporation has lodged a complaint with the CID claiming that his statement was false and public would panic over such statement.