COLOMBO (News 1st) – According to the Ministry of Petroleum Resources Development, the government is supplying fuel to the public at a loss.

Upali Marasinghe, the Secretary at Ministry of Petroleum Resource Development said the government is selling a litre of diesel at a loss of 6 -7 rupees and a litre of petrol at a loss of 14 – 16 rupees.

On 23rd March the Lanka IOC increased the price of a litre of petrol by 9 rupees and a litre of diesel by 5 rupees.

The Vice President of Lanka IOC Siddharth Agarwal said the price of the fuel was increased as the state failed to introduce a price formula. However, the Secretary at the Ministry of Petroleum Resources Development has confirmed that the state will introduce a price formula for fuel in the near future.

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