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No fuel price hike – Gammanpila

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Energy Minister Udaya Gammanpila yesterday told the media no decision had been made to increase the CPC fuel prices.

Gammanpila added that there was no shortage of fuel in the country. “However, because LIOC increased fuel prices, a lot of people are now buying fuel at CPC-run petrol stations.”

The Cabinet had approved a 3.6 billion US dollar credit line for fuel purchase from Oman, Gammanpila. Sri Lanka spent around USD 300 million on oil imports a month and the credit line would be sufficient for one year, the Minister added.

Gammanpila said that there was no point in queuing at fuel stations because it took a couple of months for a decision to increase fuel prices to be approved. For example the previous price hike in June had been proposed in April, he said.

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