Why no diesel price revision? Kanchana explains

by Zulfick Farzan 03-10-2022 | 5:29 PM

COLOMBO (News 1st) - Sri Lanka's Minister of Power & Energy Kanchana Wijesekera on Monday (3) revealed to Parliament that the price of diesel was not reduced during the recent fuel price revision as only a profit of one rupee was being made per liter.

"When we compare our import prices with the Singapore Average Price we were making a loss of Rs. 30/- per liter of Diesel. However, when we revised the prices there was no loss. We have started making a profit of Rs. 1/- per Liter of Diesel. However, we cannot drop prices by more than Rs. 10/-. If we do that, we will not have money to purchase fuel for future needs," said the Minister in response to a question posed by SJB Polonnaruwa District MP Kins Nelson.

The Minister said CPC was able to reduce the price of Petrol because it was making a profit of Rs. 70/- per liter.

Given the development, the government will be able to make another price revision in two weeks, revealed the Minister.