CPC’s request for fuel price hike highest in SL history

February 17, 2022 at 11:24 AM

Minister of Energy Udaya Gammanpila says if fuel prices are increased again, it will be the highest price hike in the history of the country.

Stating that the Ceylon Petroleum Corporation (CPC) has requested a hike in fuel prices, the Minister said it was a reasonable request by the institution. 

Minister Gammanpila pointed out that world crude prices have increased to an all-time high, adding that the Finance Ministry has been briefed on the current situation, but the Ministry is yet to respond. 

He said the CPC has informed the Energy Ministry that as a loss-making institution, it requires to increase fuel prices in order for it to continue operations.

The CPC has stressed that an increase in fuel prices is essential, proposing a litre of petrol at Rs. 192 and a litre of diesel at Rs. 169.

Pointing out that if fuel prices are not increased as requested, the CPC said it will have to take a decision to provide fuel only for essential services, such as public transportation, tri-forces, and the Police. (NewsWire)