Govt. gains profits from all petroleum products; latest cost breakdown revealed

14 November 2022 12:09 pm Views - {{hitsCtrl.values.hits}} 11 Bookmark

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The government is gaining profits from all Petroleum products with the recent price revision, according to the minister of Power and Energy Kanchana Wijesekera.

The minister revealed the cost breakdown of fuel imports after the recent price revision of fuel today.

During the latest price revision, the price of Auto Diesel was increased by Rs. 15 and Kerosene oil by Rs. 25 per litre.

Accordingly, Rs. 22.71 is profited from a litre of Octane 92 Petrol, while a gain of Rs. 126.49 from selling a litre of Octane 95 Petrol.

Also, the Ceylon Petroleum Corporation is gaining profit of Rs.0.89 by selling a litre of Auto Diesel while Rs. 36.50 from a litre of Super Diesel.

Meanwhile, the government gains Rs. 2.10 by selling a litre of Kerosene. The current retail price per litre of Kerosene is Rs. 365.

According to the minister, the cost per the litre of Kerosene is Rs. 362.90. (DSB)

Comments - 11

BuffaloaCitizen Monday, 14 November 2022 12:21 PM

However IOC has always maintained profit based on same price structure. How? This kind of statements are all for twisting the actual corruption inside CPC.

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Dasun Monday, 14 November 2022 12:29 PM

We can imagine the profits make by IOC

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The exception among the norm! Monday, 14 November 2022 12:39 PM

This is big news in Sri Lanka, while all businesses all over the world, gaining a profit is the norm and not the exception. Even a man who sells Bombay Mittai on the road pushing a hand cart, does business for a profit because he cannot survive without a profit. But in Sri Lanka, if a state owned enterprise, makes a profit, it is an exception and makes headline. What a GREAT COUNTRY is this!

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Seqi Monday, 14 November 2022 12:53 PM

Let's be clear..... this is a working profit only and is only a grain of rice in comparison to total debt, which is millions of tonnes of rice.

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kukula Monday, 14 November 2022 12:57 PM

If you care to re structure CPC, you will be able to further reduce petroleum prices. Half of the workforce is doing nothing.

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Dee Monday, 14 November 2022 01:04 PM

Yet! CPC will post a net loss. Whilst LIOC profits will soar!

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Wrong, Wrong wrong Monday, 14 November 2022 05:37 PM

Profits, 0.89 rupee a litre on diesel and 2.10 on Kerosene is just breaking even. The long term diesel subsidy meant there's a lot more diesel vehicle as proportion of all vehicles compared to countries which never subsidise for diesel. Also most other country small boat marine engine run on petrol. Only reason fisherman took up Kerosene power engine was the because of the lower price during the subsidy days.

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Paul Mercer Monday, 14 November 2022 09:55 PM

This is a pittance. SL needs to enter the real world as far as taxation etc is concerned. No wonder the country is in a mess. The govt want to please all the people all the time. It wont work

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Sambo Tuesday, 15 November 2022 07:56 AM

This petroleum minister is stooge of the president. Only increase the price but will never look into why the loss. ( Over Staff, Corruptions and Wastage) are the main reasons.

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Sunil Tuesday, 15 November 2022 09:16 AM

What does this mutt understand about accounts and profits. Fit only for the dustbin.

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Ranga Tuesday, 15 November 2022 03:10 PM

CPC overstaffed just all other SOEs

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