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CPC also to raise fuel prices The Ceylon Petroleum Corporation will increase fuel prices from next week but they will be less than the prices of the Lanka-Indian Oil Company, Petroleum Minister A.H.M Fowzie said yesterday. He said the CPC had proposed that the price of petrol be increased to Rs. 101 a litre, diesel to Rs. 70 and kerosene also to Rs. 70. He said a final decision on the extent of the increase had not yet been taken. On Friday, the LIOC raised the price of petrol to Rs 105 a litre and diesel to Rs. 73. LIOC Managing Director K. Ramakrishnan said his company had an understanding with the government for the LIOC and the CPC to sell fuel at the same price because otherwise the company would be suffering unbearable losses. Meanwhile, private bus owners have warned they would increase bus fares this month, if the CPC again increased fuel prices. Private Bus Owners Association President Gemunu Wijeratne said they had a right to raise fares if the CPC raised prices again. But Minister Fowzie, who is also minister of transport, challenged his view. He said he would discuss the matter with bus operators but would insist that the next revision of bus fares could be made only in June next year and not earlier or arbitrarily by anyone. | ||||
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