Ceypetco reveals that petrol should cost Rs. 430 and diesel Rs. 586 based on global market prices, with the state-owned corporation currently incurring heavy losses despite recent fuel price hikes.
The Ceylon Petroleum Corporation has stated that based on current global market prices, the price of a litre of diesel should be increased by Rs. 260 and petrol by Rs. 140 in Sri Lanka. Chairman D. J. A. S. De S. Rajakaruna made this revelation at a media briefing held at the Government Information Department today.
The chairman explained that the unexpected and rapid surge in fuel prices was driven by the prevailing global situation following the outbreak of war. He noted that in the early days of the conflict, widespread panic buying by the public led to long queues and rapid depletion of the corporation’s fuel reserves, significantly contributing to the current crisis.
According to data presented by the chairman, the actual cost of a litre of petrol stands at Rs. 430, yet it is currently being sold at Rs. 398, resulting in a loss of Rs. 32 per litre. The situation with diesel is far more severe, with the cost reaching Rs. 586 per litre while the selling price remains at Rs. 382. This translates to a massive loss of Rs. 204 per litre, placing immense financial strain on the state owned entity.
