CPC Providing Rs.100 Subsidy Per Litre of Diesel, Says Chairman

23-Jun-2026

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Chairman of the Ceylon Petroleum Corporation (CPC), Janaka Rajakaruna, has stated that the corporation is currently providing a subsidy of Rs.100 per litre on ordinary diesel.

He said CPC offers higher subsidies than Lanka IOC and Sinopec.

According to the Chairman, any benefit arising from a decline in global fuel prices would first be used to offset losses incurred through subsidies rather than being passed on immediately to consumers through price reductions.

He further noted that CPC has incurred losses of around Rs.5 billion due to fuel subsidies provided since January.

With an International Monetary Fund delegation expected to visit Sri Lanka next week, he warned that the continuation of such subsidies could come under scrutiny as they may conflict with IMF conditions.