CPC reveals loss from Petrol & Diesel litre

April 12, 2022 at 3:54 PM

Long queues have been reported at several fuel stations across the country today as well.

The queues have been seen, despite the Ceylon Petroleum Corporation (CPC) Chairman assuring sufficient stocks of petrol.

According to the public, several fuel stations are shut, while there are no sufficient stocks of fuel, including petrol, as claimed by the CPC Chairman yesterday.

Meanwhile, the CPC has reported a loss of between Rs. 800- 1000 million due to the daily sale of fuel.

CPC Chairman Sumith Wijesinghe said the institution suffers a loss of Rs. 110 for diesel litre and Rs. 52 for petrol litre as a result of the current depreciation of the rupee against the US dollar.

A consignment of 210,000MT of auto diesel is expected to arrive in April. However, 265,000MT of auto diesel have been ordered to meet the higher demand during the current month alongside 140,000MT of petrol, he said.

Sumith Wijesinghe further said that a sum of US$ 18,000 is also to be paid by the CPC as demurrages for a fuel shipment of 40,000 MT per day.

Meanwhile, almost US $ 375million has already been used from the US$ 500 million Indian credit line for the purchase of fuel from the Indian Oil Company (IOC). (NewsWire)