CPC seeks Cabinet nod to increase fuel prices!!

 Considering the fuel prices in the world market, it has been brought to the special attention of the Cabinet to increase the prices locally, but no final decision has been taken yet, Ceylon Petroleum Corporation (CPC) Chairman W.W.D. Sumith Wijesinghe said.

He told the Daily Mirror that there was a fast increase in fuel prices in the current world market. The price of a crude oil barrel, which was at US $85 on October 1, has increased to US $92 now.

There is no forecast seen on the decrease of fuel prices in the world market. If the current crude oil prices remain during this month, the CPC will incur a loss of Rs. 1000 billion, Mr. Wijesinghe added. (Chaturanga Samarawickrama)

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