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CEYPETCO incurs growing loss amid IOC price surge

The Ceylon Petroleum Corporation should also be increasing the price of fuel in parallel with the price surge declared by the Lanka IOC, said CEYPETCO Chairman W.W.D. Sumith Wijesinghe, revealing that a request has been made to the government in this regard.

Revealing that the CEYPETCO is incurring a loss of Rs. 05 per litre of petrol and Rs. 32.50 per litre of diesel in January, the Chairman noted that the loss incurred by the Corporation has increased due to the IOC price revision. In the backdrop, the customers are also tempted to purchase duel from petrol stations owned by the CEYPETCO, he added.

Accordingly, chances are high that the fuel prices at the CEYPETCO will also surge in the next few days. Nevertheless, the government stated today (08) that no discussions have been held so far regarding a price surge in fuel.

MIAP

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