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Saturday, 07 July 2018 - 20:45
Treasury firm on implementing fuel pricing formula, CPC remains silent
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State Minister of National Policies and Economic Affairs, Dr. Harsha de Silva reiterates that the government has been inconvenienced with regard to fuel prices due to the conduct of the Chairman of Ceylon Petroleum Corporation.

Our attempts to contact the Chairman of the Ceylon Petroleum Corporation, Dhammika Ranatunga with regard to the State Minister’s statement failed.

The Ministry of Finance took measures to revise fuel prices from midnight Thursday as per the pricing formula introduced in May.

However, the CPC issued a directive last morning stating that the price revision should not be implemented until a directive is issued by the CPC.

The Ministry of Petroleum Resources Development noted that the Finance Ministry can only make recommendations to the revision of fuel prices and that only the Petroleum Resources Development Ministry has the authority to make the final decision whether the fuel prices should be revised or not.

The Ministry of Finance said that the matter will be sorted out at the next Cabinet meeting.

The Committee appointed to revise fuel prices consists of a representative of the Secretary to the Ministry of Petroleum Resources Development, Deputy Secretary to the Treasury and two directors of the treasury.

With the revision of fuel prices, Ceypetco filling stations are selling fuel at the previous prices while the LIOC filling stations sell fuel at the revised prices.
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