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No fuel price hike

Government says that it hasn’t decided to increase the price of fuel though the fuel prices have increased in the world market.

 

The Ceylon Petroleum Corporation sells a litre of 95 octane petrol at Rs128 and the loss incurred by the government is Rs.9.32. Litre of 92 octane petrol is sold at Rs.117 and the loss incurred is Rs.14.69.

 

A litre of kerosene costs the government Rs. 88.63 but it is sold at Rs.44. A super diesel litre is sold at Rs.110 with the government incurring a loss of Rs.9.45 and a litre of auto diesel is sold at Rs.95 incurring a loss of Rs.14.32.

 

In 2017,the CPC imported and distributed auto diesel, petrol, aviation fuel, super diesel and furnace oil and other refined products to the tune of 3,167,612,250 metric tonnes at a cost of USD 1,536,870,494.97.

 

In addition 1,499,395 metric tonnes of crude oil were imported at a cost of USD 654,135,179. 58.

 

However Ceylon Petroleum Corporation Trade Union Collective Convener D. J. Rajakaruna told the media over the weekend there was absolutely no need for the government to increase the prices of petrol or diesel.

 

He said the government had imposed a tax of Rs. 45/47 on a litre of petrol and a tax of Rs. 23/25 on a litre of diesel. The government could maintain the fuel prices at the present level by making adjustments to the taxes on petrol and diesel, he said.

 

The CPC has said it will have to consider a fuel price hike as it is incurring losses.

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