Sri Lankan state refiner sells kerosene at heavy loss

ECONOMYNEXT – Sri Lanka’s state oil refiner, Ceylon Petroleum Corporation, is selling kerosene at a loss of 23.89 rupees a litre, Minister of Petroleum Resources Development Arjuna Ranatunga told parliament.

“We have reduced the kerosene price to 70 rupees a litre following requests made by the fisheries community,” he said, responding to a query by parliamentarian Jayantha Samaraweera.

It costs the CPC 93.89 rupees to produce a litre of kerosene, Ranatunga was quoted as saying in a statement.
(COLOMBO, July 18, 2018)

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