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* Petroleum price can be reduced in Sri Lanka, says trade union
Sun, Aug 24, 2014, 09:52 pm SL Time, ColomboPage News Desk, Sri Lanka.

Aug 24, Colombo: Trade unions of Sri Lanka petroleum authority, Ceylon Petroleum Corporation (CPC), say the government can reduce the current petroleum price in the country to provide relief to the public.

The secretary of the opposition United National Party (UNP) affiliated Jathika Sevaka Sangamaya, Ananda Palitha sad that the price of petroleum is low in international market now but the price is high in Sri Lanka since the high taxes imposed on them.

He also said that the demurrages and other costs incurred due to mismanagement also increase the price of petrol. The state institutions like Ceylon Electricity Board, which uses fuel oil for power generation, are also indebted to the CPC.

Opposition UNP MP Ravi Karunanayaka recently asked the President to reduce the fuel surcharge of the electricity bill to provide relief to the people.

Petroleum Industries Minister Anura Priyadarshana Yapa recently said the CPC sells diesel, furnace oil and kerosene oil at a loss and only earns profit from petrol sales. Despite the losses from selling fuel at subsidized prices, the government has not taken any decision to increase fuel prices, he added.

** Related Story :: No decision to increase fuel prices in Sri Lanka, Petroleum Minister says

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