CPC requests fuel price hike

October 11, 2021 12:02 pm

The Ceylon Petroleum Corporation (CPC) has requested the government to increase fuel prices.

CPC Chairman Sumith Wijesinghe said that petroleum corporation needs to increase fuel price in order to off set world market price hikes.

Speaking to reporters today, he said that the CPC is currently incurring a loss of Rs. 14.56 per litre of petrol and a loss of Rs. 31.46 from a litre of diesel.

He said the CPC has incurred losses to the tune of Rs. 70 billion as of August 31, 2021.

He said that the CPC should therefore go for a fuel price hike at this moment and that they are requesting the government on this urgent need.

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