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* No decision to increase fuel prices in Sri Lanka, Petroleum Minister says
Wed, Aug 20, 2014, 02:05 pm SL Time, ColomboPage News Desk, Sri Lanka.

Aug 20, Colombo: The Sri Lankan government has not taken any decision to increase fuel prices despite the losses from selling fuel at subsidized prices, Petroleum Industries Minister Anura Priyadarshana Yapa said.

Responding to a question raised on the prices of fuel in parliament Monday by opposition MP Gayantha Karunathilaka, the Minister said the petroleum authority, Ceylon Petroleum Corporation (CPC), sells diesel, furnace oil and kerosene oil at a loss and only earns profit from petrol.

He said the profit earned is also used for government's welfare services. The CPC has earned a profit of Rs. 2.6 billion during the first half of this year, the Minister added.

He said that measures have been taken to increase the capacity of Sapugaskanda Oil refinery by 50,000 barrels and the CPC has identified some investment opportunities including supply of fuel to aircrafts.

The CPC recently opened an oil storage complex and terminal at the Mattala International Airport to supply fuel aircraft arriving at the airport and an oil tank farm at the Hambantota Port to supply fuel for ships arriving at the Harbor.

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