Fuel prices may have to be increased – CPC Chairman
Posted by Editor on October 11, 2021 - 12:14 pm
The Ceylon Petroleum Corporation (CPC) has requested the government to increase fuel prices.
CPC Chairman Sumith Wijesinghe said that the Petroleum Corporation needs to increase fuel prices in order to offset world market price hikes.
He claimed as of the 31st of August, the CPC suffered losses amounting to Rs.70 billion.
He added the main solution is to increase fuel prices.
Latest Headlines in Sri Lanka
- Court orders Arjuna Mahendran to appear over 2015 treasury bond case November 26, 2024
- Sri Lanka to present 2025 Budget on January 9, 2025 November 26, 2024
- Sri Lanka Government issues gazette on ministries’ subjects and responsibilities November 26, 2024
- 32 Sri Lankans rescued from human trafficking in Myanmar November 26, 2024
- PUCSL warns CEB: Submit tariff plan by December 6, 2024 or face action November 25, 2024
Of course, the price of a barrel is > USD 80 and where the Energy Minister went to make a deal, the price is > USD 87.
With the komis involved, fuel prices should rise by least 30% to meet with cost.