Government Considers Rs. 80–100 Per Litre Diesel Subsidy

Report Summary

Minister of Energy Anura Karunathilaka announced that the government is considering a subsidy of Rs. 80 to Rs. 100 per litre of diesel starting from the end of this month. Data on losses incurred by fuel retailers, including the Ceylon Petroleum Corporation (CPC), has been requested to determine the exact subsidy amount and prevent an increase in diesel prices during the upcoming monthly price revision. Meanwhile, crude oil is trading at around US$92.41 per barrel in the US WTI market and US$104.03 in the British Brent market.