Fuel distributors have agreed to the new pricing formula introduced by the Ceylon Petroleum Corporation (CPC), Cabinet Spokesperson Minister Nalinda Jayatissa said.

Speaking at the Cabinet press briefing, Jayatissa confirmed that the formula is now in effect. 

He added that another discussion is scheduled for March 18 to review proposals submitted by the distributors.

“The formula introduced by the CPC has been agreed upon and will be implemented accordingly. Meanwhile, fuel distributors have raised several concerns. While the new formula is in effect, another discussion will be held on the 18th morning to review their proposals. Therefore, there is no issue regarding fuel distribution,” Jayatissa said. (NewsWire)

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A group of fuel distributors handed over a petition to the Presidential Secretariat today in a bid to resolve the issue that has arisen due to the Ceylon Petroleum Corporation’s (CPC) decision to abolish the 3% commission given to petroleum separators in fuel distribution.

Speaking to a senior official at the Presidential Secretariat, representatives of the Petroleum Dealers Associations requested the matter to be taken up with the President and to provide a just solution.

“If the authorities feel it is an unfair charge, we are willing to discuss the matter and find a fair solution. After discussing, if we also feel it is an unfair charge, then we would consider stepping down and allowing a known party to conduct the activities,” a representative of the Petroleum Dealers Association said. 

Stating that petitions had been given to many officials before, the representatives requested for their petition to be handed over to the President and to make arrangements for a discussion with a few representatives of the Petroleum Dealers Associations to resolve the matter.

They also added that the China Petroleum and Chemical Corporation (Sinopec) and Indian Oil Company (IOC) have expressed interest in working with them for fuel distribution. 

The representatives of the Petroleum Dealers Associations said discussions have already commenced in this regard, adding that verbal consensus has already been reached with Sinopec and IOC on the matter. (Newswire)

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