Sri Lanka It's Happening

January 15, 2008

During the last budget speech the president, who also happens to be the finance minister told the people of this country that the prices of petrol and diesel will not be raised 'at least until January' For a change it seems that he and the government has kept their promise.

The budget was presented in November and they didn't raise the prices right up till the new year. But January is january and the Ceylon Petroleum Corporation is running at a huge loss because it's not getting paid for the aviation fuels that it supplies to Mihin Lanka (the president's pet project).

So the inevitable price rise is upon us. Petrol has been raised by Rs 10.00 which is a near 10% rise as well. Even then the CPC continues to run at a loss, not just because of Mihin Lanka but because the street price of Petrol is still lower than what it costs the CPC.