The Rs. 57 billion allocated for fuel subsidy will end in June.... 

The Rs. 57 billion allocated by the government for fuel subsidy will end in June, says Ceylon Petroleum Corporation Chairman D.J. Rajakaruna.

He says that this has made it difficult to bear this loss further, and that the increase in fuel costs, which were previously around $100-120 million per month, to $522 million last month has had an unbearable impact on the economy and the dollar reserves.

Despite the revision in fuel prices, the government and the Ceylon Petroleum Corporation still have to suffer a huge loss from every liter of fuel, so the people should limit their fuel consumption as much as possible, the corporation chairman further says. 

 The Chairman said that although the cost of a liter of diesel is currently Rs. 536, it is being sold for Rs. 407, and the government is paying Rs. 100 for this, and even after that, the government is losing Rs. 29.

He also revealed that although the cost of a liter of petrol is Rs. 494, selling it for Rs. 434 results in a loss of Rs. 60 per liter.

The Chairman emphasized that since the increase in fuel costs affects the entire economy of the country and the prices of other goods and services, the people should limit their fuel consumption responsibly. He warned that otherwise, the dollar crisis could worsen.

The Chairman also said that close attention has been paid to filling stations that do not properly implement the QR code system introduced for fuel control.

He further stated that in a situation where the commission of filling station owners has been increased, the incentives given to filling stations that do not properly follow the QR system will be cut from this week.