Officials of the Ceylon Petroleum Corporation (CPC) informed the Committee on Public Finance (CoPF) that government-provided fuel subsidies are scheduled to end in June.
Responding to questions posed by the Chairman of the Committee on Public Finance, Dr. Harsha de Silva, officials further stated that no decision has yet been taken regarding an increase in fuel prices.
President Anura Kumara Dissanayake stated on May 13 that the government’s objective is to reduce fuel consumption, and that, in this context, measures such as adjustments to fuel pricing had been considered.
Addressing the Nuwara Eliya District Special Coordinating Committee meeting, the President noted that, amid rising global fuel prices, the local cost of a litre of diesel had increased to Rs. 720.
He further stated that the CPC continues to incur losses, as the government subsidises approximately Rs. 100 per litre of diesel to supply it to the public at Rs. 392, adding that this situation is not sustainable in the long term.
