Possible Fuel Price Revision Tonight
There is a likelihood of a fuel price revision tonight (04), according to sources. The Ceylon Petroleum Corporation (CPC) has indicated that the initially scheduled fuel price revision at the end of February may happen today.
The CPC follows a monthly pricing formula for fuel adjustments, with the last revision occurring on January 31, resulting in increased prices for octane 92 petrol, octane 95 petrol, super diesel, and kerosene.
Against this backdrop, President Ranil Wickremesinghe has issued an Extraordinary Gazette, declaring services related to electricity supply and petroleum product distribution as essential services from March 3, 2024.
The proclamation states that these services are deemed Essential Public Services due to their crucial role in community life, and any disruption could impede them.
Simultaneously, the Fuel Distributors’ Association alleges that the CPC plans to impose a 35% usage fee on the monthly rebate amount received by fuel distributors. Shelton Fernando, the association’s president, asserts that this move could hinder their ability to cover daily distribution expenses.