Minister of Petroleum says no increase in fuel prices

Petroleum Resources Development Minister Arjuna Ranatunga has said that his Ministry has no intention to raise fuel prices.Petroleum Resources Development Minister Arjuna Ranatunga has said that his Ministry has no intention to raise fuel prices.

Minister Arjuna Ranatunga had made this remark responding to a query by a several ministers regarding the increase of fuel prices at the cabinet meeting held yesterday (24).

The Minister is reported to have also said that although the Ceylon Petroleum Corporation incurs losses, the fuel prices will not be increased at this time burdening the people.

After the fuel price increase by the Lanka Indian Oil Company (LIOC), the CPC is said to be currently incurring a loss of Rs. 38 million per day.