According to the agreement made with China’s Sinopec Company, the first bulk order of fuel will reach Sri Lanka by the first week of next month, according to Mr. D. V. Chanaka, Minister of State for Energy. Sri Lanka Latest News
He mentioned this while attending a news conference held today (23) at the Presidential Media Center.
The Minister of State who commented further in this regard,
“By the first week of next month, the first two shipments will arrive from Sinopec. Then we hope to be able to reduce the dollar amount out of the equation by 20% of the CPC within the first month. Also, it is possible to reduce the amount of dollars that went out by up to 45% monthly. Compared to that, either the QR code can be increased by discussing with the Ministry of Finance. Or it can be completely removed.
From this month, we hope to use the price formula to affect all companies, and we will determine a maximum price every month by the ministry. Maximum price of petrol is this much, diesel is this much, 95 is this much, super diesel is this much and only the maximum price decides. After that, CPC, LIOC, and the three new companies have the ability to sell at their desired price subject to the maximum price. When one company reduces the price, we believe that the other company will be able to reduce the price of oil in the country by making it more competitive.”
