Kerosene sales down 400% with price hike: Minister

23 May 2018 10:02 am Views - {{hitsCtrl.values.hits}} 6 Bookmark

A A A

Kerosene sales have declined by a whopping 400 percent since the removal of the kerosene subsidy this month, indicating large scale abuse of kerosene for adulteration of more expensive distillates and greater industrial use of the fuel, Petroleum Resources Development Minister Arjuna Ranatunga announced yesterday.

Speaking at the launch of the ministry’s new website, Ranatunga said bus and lorry owners particularly substituted kerosene for diesel and other fuels due to subsidised kerosene prices.

The government hiked fuel prices early this month for the first time since 2015, and the Cabinet approved a pricing formula that will re-price fuel prices every two months going forward.

Accordingly, the price of a petrol litre was increased by Rs.20 and diesel by Rs.14. The biggest increase was effected on kerosene, jacking up the price to Rs.101 from Rs.44.

Comments - 6

M. Basnayake Wednesday, 23 May 2018 10:57 AM

I don't think this guy knows math. If something is down 400%, then it's a negative value. So that means the government is now buying kerosene from the people?

24 92

AJ Thursday, 24 May 2018 11:10 AM

Mr. Basnayake - if only our politicians were competent. Our country would be paradise.

0 1

wonderasia Wednesday, 23 May 2018 11:08 AM

How come something can go down beyond 100%. if so it had to be going other way, like those who bought are returning to kerosene to the CPC. Lets say the sales before price hike is 1mn litres, maximum sales that can go down is 1mn litres, which is 100% decline. Minister has got some basic maths wrong I guess..

6 64

Chamode Wednesday, 23 May 2018 11:27 AM

I assume the article meant to say reduction in sales by 4 folds.

1 45

Dee Wednesday, 23 May 2018 11:29 AM

Probably he means the sales are 1/4 of usual.

1 37

Pina Wednesday, 23 May 2018 11:35 AM

Who is the idiot here, the minister or the reporter?

2 68

Add comment
Comments will be edited (grammar, spelling and slang) and authorized at the discretion of Daily Mirror online. The website also has the right not to publish selected comments.