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I am not even sure for how long the CPC will be able to continue trading fuel in this manner – Gammanpila

Udaya Gammanpila, Minister of Energy says that he is not even sure how long the CPC will be able to continue trading in this manner as it is losing Rs. 551 million per day.

“According to the calculations of the Petroleum Corporation, a liter of 92 octane petrol is sold at a loss of Rs. 19. Accordingly there is a loss of Rs. 17 per liter of 95 octane petrol, Rs. 52 per liter of diesel Rs. 35 per a liter of premium diesel and Rs 63 per liter of kerosene. Accordingly, the loss incurred by the Corporation per day is Rs. 551 million. This loss is incurred by a corporation that incurred a loss of Rs. 83,000 million last year as well. The corporation can no longer trade fuel in this manner. If this continues to happen no one can prevent an oil shortage in this country in the near future. I am not sure how much longer it will be possible to tie it like this. ”

Minister Udaya Gammanpila stated this addressing a media briefing held in Colombo yesterday (18).

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