August 21, 2022
1 min read

Poor man’s fuel gets dearer in Lanka

Kerosene is used among several vulnerable communities and was earlier sold at a subsidized rate of 87 LKR…reports Asian Lite News

Amid the continuing economic crisis, Sri Lanka’s state-owned fuel distributor Ceylon Petroleum Corporation (CPC) has hiked the price of kerosene to cut losses.

The hike took effect on Sunday midnight, reports Xinhua news agency

Issuing a statement, the CPC said the price of a liter of kerosene increased by 253 LKR ($0.7) to 340 LKR.

Kerosene is used among several vulnerable communities and was earlier sold at a subsidized rate of 87 LKR.

Last month, Minister of Power and Energy Kanchana Wijesekera told Parliament that they planed to raise the price of kerosene and give a subsidy to low-income groups.

He said that the cost to produce a liter of kerosene is 421 LKR.

Selling kerosene at a subsidized rate is one of the main reasons why the CPC makes a loss, the Minister said.

ALSO READ: Lanka looks to Saudi travelers to boost tourism industry

Previous Story

Stripe joins layoff club

Next Story

Liz Cheney not ready to end fight with Trump

Latest from -Top News

G7 Sides with Israel in Escalating Conflict

The leaders said “Iran is the principal source of regional instability and terror.”…reports Asian Lite News Leaders of the G7 nations, meeting at a summit in Canada, issued a joint statement backing

Awami League Slams ‘Fascist’ Yunus

The videos from the protest shared on the party’s social media page showed several party activists marching through the streets of Dhaka in support of Hasina…reports Asian Lite News Hundreds of Awami

India Evacuates Students from Tehran

The Ministry also said that the Indian Embassy is continuously in touch with the community to provide all feasible assistance….reports Asian Lite News Amid rising tensions between Israel and Iran, India has

Trump: Get Out of Tehran Now!

The US President also announced that he would cut short his visit to the Group of 7 (G7) summit in Canada to closely monitor the situation …reports Asian Lite News US President

UN Slams Bangladesh’s Party Ban Law

UN noted that prohibiting political parties would hinder a genuine transition to multiparty democracy…reports Asian Lite News UN Human Rights Chief Volker Turk has voiced deep concern over recent legislative changes enacted
Go toTop

Don't Miss

G7 vows US$ 14 billion aid for crisis-hit Lanka

Sri Lanka’s average paddy production which is usually 24 million

Lanka Calls for Attention to Climate Change, Debt Relief, and Sustainable Development

He asserted that global power conflicts are adding economic uncertainty,