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No hike in fuel prices: Minister Ranawaka
View(s):“There will be no increase in fuel prices,” declared Minister of Power and Energy, Champika Ranawaka, yesterday. “Nor is there a shortage of petroleum products,” he told the Sunday Times, commenting on reports on some websites that due to a shortage, a price hike was imminent.
He said that prices could still be lowered but for the surcharges and taxes State-owned Ceylon Petroleum Corporation (CPC) is compelled to pay. The CPC, he said, had made a profit of Rs. 17 billion. However, they had to pay the Treasury Rs. 21 billion, compelling the CPC to suffer losses.