CPC seeks Cabinet nod to increase fuel prices

11 October 2021 12:09 pm Views - {{hitsCtrl.values.hits}} 14 Bookmark

CHATURANGA PRADEEP SAMARAWICKRAMA Follow

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Considering the fuel prices in the world market, it has been brought to the special attention of the Cabinet to increase the prices locally, but no final decision has been taken yet, Ceylon Petroleum Corporation (CPC) Chairman W.W.D. Sumith Wijesinghe said.

He told the Daily Mirror that there was a fast increase in fuel prices in the current world market. The price of a crude oil barrel, which was at US $85 on October 1, has increased to US $92 now.

There is no forecast seen on the decrease of fuel prices in the world market. If the current crude oil prices remain during this month, the CPC will incur a loss of Rs. 1000 billion, Mr. Wijesinghe added. (Chaturanga Samarawickrama)

Comments - 14

Tragedy Monday, 11 October 2021 12:21 PM

These are the same people that laughed and made jokes about Mangalas fuel price formula. Now the 6.9 million herd is slowly realizing they’ve been duped. I weep for my country. They never learn. Never..

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Sixtynine Monday, 11 October 2021 12:28 PM

Don't hesitate carry on regardless. Fall on line with the world price. Bit our salaries and wages are not upto the world standards.

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Kana Monday, 11 October 2021 12:30 PM

Don’t worry go mannar free petroleum

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joshua Monday, 11 October 2021 12:35 PM

So another increase? To hell with this Govt

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Priyantha77 Monday, 11 October 2021 12:36 PM

liberalize petroleum industry to avoid tax us for corruption and wastage at CPC

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ajith66 Monday, 11 October 2021 12:37 PM

who need keep CPC as a SOE and pay for losses ? sell shares to public and remove burden on government

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Dee Monday, 11 October 2021 12:38 PM

Fully understand! But what happened when global prices went rock bottom last year May to Dec.? Probably you may not have been informed of the global market prices!

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Kikazaru Monday, 11 October 2021 12:44 PM

The time I graduated from university we all wanted to join the Ceylon Petroleum Corp, The Ceylon Electricity Board or the Ceylon Transport Board. There were no private compares except IBM and they had the one of the two computers at the Ceylinco Building.

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Farieze Monday, 11 October 2021 01:13 PM

Another bomb planned

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sam Monday, 11 October 2021 01:22 PM

Please dont mislead the public, they are aware of changes in world markets. Crude was $81 on friday. When was it 85 and who is selling at $92?

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Sandy Monday, 11 October 2021 01:24 PM

Small electric two wheelers and solar powered homes are the future , fossil fuels will cost more in future with supply cuts. Americans have prevented iran and Venezuela from supplying oil and other opec nations have cut production to boost prices

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Udaya Monday, 11 October 2021 04:53 PM

Why is Gammanpila not putting forward his solution of Drilling Oil from the Mannar Basin ? These fellows only twist their tongues to suit themselves.

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Sambo Monday, 11 October 2021 06:38 PM

Why the hell do we need nodding ministers in parliament.

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Samson Tuesday, 12 October 2021 01:06 PM

Might as well do the increases in one go and forget increases for sometime.

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