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CPC+incurs+a+daily+loss+of+Rs.+38+million
Monday, 02 April 2018 - 9:43
CPC incurs a daily loss of Rs. 38 million
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Ceylon Petroleum Corporation says due to the rising crude oil prices in the world market and increased demand locally, they incur a loss of Rs. 38 million daily.
 
Although Lanka IOC upwardly revised the fuel prices, CPC said they would sell fuel at the previous rate.
 
The CPC said due to the price difference, the demand for fuel from their sheds has risen exorbitantly.
 
However, the CPC sources said that the state-owned entity is planning to bring in a pricing formula to minimize effects of price changes.
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