Sri Lanka has explored the idea of increasing the prices of premium products, Minister of Energy Kanchana Wijesekera said.
In a Twitter message, he said currently 95 Petrol and Super Diesel daily requirements are less than 10% of the market share.
Pointing out that driving up prices significantly on both will not be a solution, the Minister added that it will create an artificial demand for lesser-priced products.
Following are 07 key points highlighted by the Minister on addressing the current fuel crisis:
- 95 Petrol and Super Diesel daily requirements are less than 10% of the market share. We have explored the idea to increase the prices of premium products.
- Driving up prices significantly on both will not be a solution. It will create an artificial demand for lesser-priced products.
- CPC placed an advertisement 3 weeks ago for anyone who can supply petroleum products to submit their proposals.
- 67 such proposals were received, all were evaluated by the tech committee, and 39 were shortlisted. Got them all together and spoke to them last Tuesday.
- We clearly communicated to them our possible payment plans and our requirements and answered all questions they had.
- Further to that the President, PM, and Ministry of Energy have made requests from oil-producing countries for their support and credit lines.
- Requests are made for anyone who can supply products to the said requirements and the best pricing possible to submit proposals to the Ministry of Energy or CPC to evaluate them, which we will do in 48 hours. (NewsWire)