Fuel prices may have to be increased – CPC Chairman
Posted by ONLANKA Newsroom on October 11, 2021 - 12:14 pm
The Ceylon Petroleum Corporation (CPC) has requested the government to increase fuel prices.
CPC Chairman Sumith Wijesinghe said that the Petroleum Corporation needs to increase fuel prices in order to offset world market price hikes.
He claimed as of the 31st of August, the CPC suffered losses amounting to Rs.70 billion.
He added the main solution is to increase fuel prices.
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Of course, the price of a barrel is > USD 80 and where the Energy Minister went to make a deal, the price is > USD 87.
With the komis involved, fuel prices should rise by least 30% to meet with cost.