Minister of Energy Kanchana Wijesekera says the Kerosene price revision was a must for many years.
The price of a litre of Kerosene which was Rs. 87 was increased by Rs. 253 yesterday, with the new price at Rs. 340 per litre.
Commenting on the price hike, Minister Wijesekera said that one main reason for the Ceylon Petroleum Corporation (CPC) to incur losses was due to selling Kerosene at subsidized prices.
With prices now on par with costs, the Govt has proposed a direct cash subsidy to low-income families, fisheries, and the plantation sectors that depend on Kerosene, he added. (NewsWire)