Fuel prices to further reduce within next two weeks: Minister
Posted on October 3rd, 2022
Courtesy The Daily Mirror
Power and Energy Minister Kanchana Wijesekera hinted today that fuel prices would be further reduced within the next two weeks in line with the fuel price reduction in the world market.
Responding to a question by SJB MP Kins Nelson as to why diesel prices were not reduced, the Minister told Parliament that price of petrol was reduced by Rs. 40 as there was a profit of Rs. 70 from petrol sales.
He said however, prices of diesel could not be reduced during the latest price revision as there was a loss of Rs. 30 from diesel sales and that there was one rupee profit from diesel sales now.
He said it is not possible to reduce fuel prices in line with crude oil price reduction at the global market as only 30 percent of the total fuel requirement in Sri Lanka was produced in local refineries from imported crude oil.
The Minister said however, fuel prices would be further reduced within next 14 or 15 days. (Ajith Siriwardana and Yohan Perera)