ECONOMYNEXT – Sri Lanka’s Ceylon Petroleum Corporation (CPC) is planning to implement a daily automated price revising system from next year, Minister of Power and Energy Kanchana Wijesekera said.
Sri Lanka revises the price of fuel on the first of every month.
State run CPC raised the price of 92 octane petrol by 20 rupees to 348 rupees, effective from midnight July 30.
95 octane petrol was also increased by 10 rupees to 375 rupees a litre.
Super diesel was increased by 12 rupees to 358 rupees a litre, but auto diesel was reduced by 2 rupees to 306 rupees.
The price of kerosene was also reduced by 10 rupees to 226 rupees.
Lanka IOC also retails fuel at the same pricing margins, whilst Sinopec Energy Lanka (Pvt) Ltd, a unit of China’s Sinopec petroleum group, said it has started selling diesel and petrol 3.00 rupees below the price set by State-run Ceylon Petroleum Corporation.
CPC dealers were briefed on the implementation of a daily automated price revising system from 2024, Wijesekera said, and were asked to automate all fuel dispensing and stock taking facilities with new equipment.
The QR code-enabled fuel rationing system that was in operation in Sri Lanka for well over a year was suspended effective September 1, Friday.
In the wake of Sri Lanka’s worst currency crisis in decades in 2022, after several methods to control fuel queues and manage limited fuel stocks failed, authorities introduced the QR code system in a bid to ration fuel and reduce queues. (Colombo/Sep13/2023)