Aug 09, Colombo: Sri Lanka Minister of Petroleum and Petroleum Resources Development A.H.M. Fowzie today pledged not to raise the petroleum prices again within this year.

The Minister participating in the cabinet press briefing said that the Ceylon Petroleum Corporation (CPC) was not losing now. However, the CPC loses 20% from the fuel supplied to the Ceylon Electricity Board (CEB) at a subsidized rate.

Minister Fowzie said that the CPC had sought Rs. 800 million from the government to develop the oil refinery in Sapugaskanda so as to increase the refining of crude oil in the country.

Sri Lanka government increased fuel prices seven times this year and 19 times in its rule since 2004, the Opposition accuses.