August 21, 2022
1 min read

Poor man’s fuel gets dearer in Lanka

Kerosene is used among several vulnerable communities and was earlier sold at a subsidized rate of 87 LKR…reports Asian Lite News

Amid the continuing economic crisis, Sri Lanka’s state-owned fuel distributor Ceylon Petroleum Corporation (CPC) has hiked the price of kerosene to cut losses.

The hike took effect on Sunday midnight, reports Xinhua news agency

Issuing a statement, the CPC said the price of a liter of kerosene increased by 253 LKR ($0.7) to 340 LKR.

Kerosene is used among several vulnerable communities and was earlier sold at a subsidized rate of 87 LKR.

Last month, Minister of Power and Energy Kanchana Wijesekera told Parliament that they planed to raise the price of kerosene and give a subsidy to low-income groups.

He said that the cost to produce a liter of kerosene is 421 LKR.

Selling kerosene at a subsidized rate is one of the main reasons why the CPC makes a loss, the Minister said.

ALSO READ: Lanka looks to Saudi travelers to boost tourism industry

Previous Story

Stripe joins layoff club

Next Story

‘It helped set me on my own peculiar musical journey’

Latest from -Top News

India-EU Trade Talks Resume

The proposed India-EU FTA covers 23 policy areas, or chapters, of which at least two – market access and rules of origin – have yet to be resolved….reports Asian Lite News India

India Launches Relief Ops in Bhutan

The Royal Government of Bhutan has expressed sincere gratitude to the Indian Army…reports Asian Lite News Amid unprecedented floods caused by a low-pressure system over the Bay of Bengal, relentless rainfall has

Jaishankar Hints at Tariff Deal with US

Jaishankar explained that the ongoing trade tensions largely stem from the inability of both sides to reach a common ground on several issues….reports Asian Lite News External Affairs Minister S. Jaishankar on
Go toTop

Don't Miss

India, Lanka sign pact to procure $1b credit facility

Recently, Sri Lanka’s High Commissioner to India Milinda Moragoda had

Lanka PM asks China to restructure debts

Facing crisis with no dollars to import food, fuel, medicine