Oct 11, Colombo: Udaya Gammanpila, Minister of Energy said the highest price increase in oil prices in recent history has been recorded lately and he hopes to discuss the possibility of granting some relief with the Cabinet.
Speaking at a media briefing held at the Ministry of Energy today (11), the Minister said the government bears this increase and will take steps to provide some relief if possible. He added that he hopes to discuss this matter in the Cabinet.
Chairman of the Ceylon Petroleum Corporation Sumith Wijesinghe addressing the media briefing said that the Ceylon Petroleum Corporation has requested the government to increase fuel prices in Sri Lanka in comparison to the increase in fuel prices in the world market.
Recalling that the last time fuel prices were raised was on June 11, the CPC Chairman said at that time the price of a barrel of oil in the world market was 92 petrol at $ 78.80 and diesel at $ 76.60. Today, the price of a barrel of petrol has risen to $ 92 and that of diesel to $ 92.67.
With the increase in fuel prices, the Ceylon Petroleum Corporation will incur a loss of Rs. 14.56 per liter of petrol and Rs. 31.46 per liter of diesel.
The Chairman pointed out that the Petroleum Corporation had incurred a loss of Rs. 70 billion as at August 31 and requested the government to pay attention to this matter.