A fuel price revision is likely to take place tonight (04), as per sources.
The Ceylon Petroleum Corporation (CPC) stated that although the fuel price was slated to be revised at the end of February, the price revision will possibly take place today.
The CPC amends the fuel prices monthly as per the pricing formula. Accordingly, the prices were last revised on January 31, where the prices of octane 92 petrol, octane 95 petrol, super diesel and kerosene were increased.
Against this backdrop, President Ranil Wickremesinghe has issued an Extraordinary Gazette declaring all services connected to the supply of electricity and the supply or distribution of petroleum products and fuel as essential services with effect from 03 March 2024.
Accordingly, the proclamation states that the services specified have been declared as Essential Public Service considering it necessary that the services provided by any Public Corporation or Government Department or Local Authority or Co-operative Society or any branch thereof being a Department or Corporation or Local Authority or Co-operative Society, which is engaged in provision of the services specified, is essential to the life of the community and is likely to be impeded or interrupted.
In the meantime, the Fuel Distributors’ Association alleges that the CPC has taken steps to incur a usage fee of 35% of the monthly rebate amount received by the fuel distributors. President of the association Shelton Fernando claimed that through this action, it will not be possible for them to even meet the daily expenses for the distribution activities.
