LIOC did CPC a favor with price hike - Gammanpila

COLOMBO (News 1st); Sri Lanka's Energy Minister Udaya Gammanpila said that Lanka IOC had done a favor to the Ceylon Petroleum Corporation by increasing fuel prices.

Sri Lanka’s LIOC, raised petrol 92-Octane by Rs. 7/- to Rs. 184/- a liter and Diesel by Rs. 3/- to Rs. 124/- with effect from Monday (7).

Minister Gammanpila said that LIOC with the price increase has sent its customer base to the CPC.

However, the minister said the CPC has no intention of increasing prices, despite prices in the world market increasing.

Despite the world price hike, the CPC will take measures to ensure that the burden does not fall on its consumers, said the Minister.