27 June 2022 08:40 am
By Darshana Sanjeewa Balasuriya
Amidst the prevailing economic crisis, soaring food prices and cost of living, the Ceylon Petroleum Corporation (CPC) and Lanka Indian Oil Company (LIOC) had increased the fuel prices with effect from yesterday.
The CPC announced yesterday that the prices of a litre of Petrol 92 Octane will be increased by Rs. 50 while a litre of Petrol 95 Octane by Rs.100, a litre of Auto Diesel by Rs.60 and a litre of Super Diesel by Rs. 75. Accordingly, the new price of a litre of Petrol Octane 92 is Rs. 470 and Octane 95 is Rs. 550. The price of a litre of Auto Diesel is Rs. 460 and litre of Super Diesel is Rs. 520.
Following the increase of CPC fuel prices, the LIOC has also increased the fuel prices and now both the CEYPETCO and the LIOC fuel prices stand equal.
Meanwhile, the Power and Energy Minister Kanchana Wijesekera released the estimated cost of imported refined petroleum products following the increase of fuel prices. Accordingly, the CPC will gain a profit of Rs. 68.61 from a litre of Octane 95 petrol and Rs. 15.57 on Octane 92 and also it gains Rs. 20.27 from super diesel. However, the CPC incurs a loss of Rs. 8.52 from a litre of auto diesel and Rs. 334 per litre of kerosene.
The CPC increased the prices of its existing stocks of fuel a few hours after the Power and Energy Minister announced that new shipments of Petrol, Diesel would be further delayed.
Power and Energy Minister Kanchana Wijesekera said on Saturday that CPC has informed him that the suppliers had communicated the inability to fulfill the deliveries on time for banking and logistic reasons.