Ceylon Petroleum Corporation (CPC) is currently incurring a loss of Rs. 129 on every litre of auto diesel and Rs. 60 on every litre of Octane 92 petrol sold, CPC Chairman D.J. Rajakaruna said while explaining the latest fuel price increase.

According to Rajakaruna, the actual cost of supplying a litre of auto diesel is around Rs. 536, while it is sold at Rs. 407, resulting in a loss of Rs. 129 per litre. He said a litre of Octane 92 petrol costs approximately Rs. 494 to supply but is sold at Rs. 434, resulting in a loss of Rs. 60 per litre.

The CPC Chairman said the Government had been absorbing a significant portion of these losses in recent months in an effort to shield consumers from the impact of rising global oil prices.

He noted that the Government had allocated Rs. 57 billion to support fuel pricing, but the funds set aside for this purpose are expected to be exhausted by the end of June.

Rajakaruna said the increase in global oil prices and the rise in the country’s fuel import bill had contributed to the need for a fuel price revision. He warned that continuing to sell fuel at heavily subsidised rates would place further pressure on the economy and foreign exchange reserves.

He also urged the public to reduce fuel consumption where possible, stating that excessive fuel use could worsen pressure on the rupee and lead to broader economic consequences.

Rajakaruna further said CPC would strengthen monitoring of fuel distribution through the QR code system and take action against fuel station operators who fail to comply with the required procedures. (Newswire)

The post CPC losing Rs. 129 on every litre of Diesel, Rs. 60 on Petrol: Chairman appeared first on Newswire.

The awarding of a long-term contract for the procurement of five shipments of Petrol 92 Octane Unleaded (92 Unl) to M/s Epdesa Pte. Ltd., following a competitive bidding process, has been approved by the Cabinet of Ministers.

The contract, covering the period from March 15 to September 14, 2026, involves the supply of five shipments totaling approximately 300,000 ±5% barrels of petrol.

The Ceylon Petroleum Corporation invited bids from its registered suppliers, receiving submissions from six companies.

Based on the recommendations of the higher-level standing procurement committee, Epdesa Pte. Ltd. of Singapore was selected as the lowest substantially responsive bidder, the government said. (Newswire)

The post Sri Lanka to contract Singapore’s Epdesa for 05 petrol shipments appeared first on Newswire.

Cabinet approval has been granted to award a long-term contract to M/s Aditya Birla Global Trading (Singapore) Pte. Ltd for the procurement of 05 stocks of Shipment of 92 Unl Petrol (unleaded gasoline). 

According to the government, bids were called from the registered suppliers of Ceylon Petroleum Corporation (CPC) for supplying 1.5+/-5% million barrels of 92 Unl Petrol for a period of 06 months from 15.07.2024 to 14.01.2025. 

Based on the recommendation of the Standing Technical Evaluation Committee, the Standing Procurement Committee appointed by the Cabinet of Ministers has recommended awarding the said procurement to M/s Aditya Birla Global Trading (Singapore) Pte. Ltd. 

Accordingly, the Cabinet of Ministers approved the proposal presented by the Minister of Electricity and Power to award the relevant procurement to the selected company. (Newswire)

The post Procurement of 92 Unl Petrol shipment awarded to Aditya Birla Trading Company appeared first on Newswire.