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Friday June 9th, 2023
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The price revision will be done inline with the newly introduced pricing formula based on global prices
CPC and CPSTL have not been operating on Sundays and public holidays in the last 4 months
Lanka Industrial Kerosene will be cut by 60 rupees a litre to 270 rupees.
The new ration will be effetive from midnight May 31.
Fuel Quota currently allowed on the National Fuel Pass QR system will be increased from the next month
Expected to begin operations within 45 days of licensing
The contract will run from June 01, 2023
Profits up with currency fall
Petrol taxed at Rs77 a litre, diesel Rs51 a litre
The minister met a Sinopec team that arrived in the island the previous day to finalise the agreements.
“The misuse of the QR code has also gone down after the amount was increased.”
New players being able to import and supply fuel to the country will also reduce the over-reliance on the CPC
Sri Lanka faced fuel shortage last year before a political crisis-led public protests ousting former leader
Sri Lanka imposed fuel quota in August last year to limit consumption amid shortage
Also attempting to re-start suspended Japanese funded terminal.
"We hope to reduce it by 8-10 percent and will be applied from tomorrow."
| Latest | Last | |
|---|---|---|
| US Dollar | 285.6900 | 285.5677 |
| UK Pound | 354.8732 | 353.5696 |
| Euro | 304.7190 | 303.6215 |
| Aus Dollar | 189.0321 | 189.0180 |
| Yen | 2.0361 | 2.0407 |
| Latest | Last | |
|---|---|---|
| Indian Rupee | 3.5232 | 3.5289 |
| Korea Won | 0.2229 | 0.2241 |
| Oman Rial | 755.7233 | 756.3542 |
| Saudi Riyal | 77.5896 | 77.6543 |
| UAE Dirham | 79.2182 | 79.2865 |
| pts | % | |
|---|---|---|
| S&P SL20 | 2,479.87 | 0.65% |
| CSE All Share | 8,767.34 | 0.52% |
| Turnover Rs million | 853,744,002.55 | 1,050,086,703.68 |
| Latest | Last | |
|---|---|---|
| 3-m bill | 24.37 | 24.64 |
| 6-m bill | 24.00 | 24.24 |
| 12-m bill | 22.03 | 22.37 |
| 5-yr bond | 24.67 | 24.98 |
| 8-yr bond | 23.33 | 23.82 |
| today | yesterday | |
|---|---|---|
| Overnight Money | 13.94 | 14.00 |
| Gilt Repo | 13.25 | 14.00 |
| I-m SLIBOR | - | - |
CPC trade unions have been powerful and challenged successive governments in the past
Protesters demanded the abolishment of
Price revision date advanced on President's advice - Minister
Union leaders sent on compulsory leave CPC says
The protest has disrupted fuel distribution
There were on-going discussions on "bringing an oil pipeline from India to Trincomalee
Sinopec has been eying Sri Lankan market for a long time, government officials say
Fuel prices have been more than tripled in the last 12 months after the country faced shortage
The project will be piloted with a 6.83bn won grant
Sri Lanka has urged India to develop the energy hub of South Asia in Eastern Trincomalee.
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