CPC slashes fuel prices across board after protests-led queues

■ Minister calls on public not to panic, assures SL has highest fuel stock compared to past 5 years ■ IOC also announced reduced fuel prices in line with CPC

POWER and Energy Minister Kanchana Wijesekera yesterday announced reduced fuel prices across the board, after one day of protests-led queues countrywide.

As per the price revision announcement, the Octane 92 petrol litre has been reduced by 15% or Rs. 60 to Rs. 340, Octane 95 petrol has been reduced by 26.5% or Rs.135 to Rs. 375 per litre, Auto Diesel prices have been lowered by 19.8% or Rs. 80 to Rs. 325, and kerosene by 3.3% or Rs.10 to Rs. 295.

“We will not allow any fuel shortage in the country,” he told journalists yesterday.

The price reduction announcement came yesterday after many motorists were forced to stay in long queues on Tuesday as the CPC trade union protest had delayed the distribution from the Sapugaskanda storage terminals. He called on the public not to panic, and assured that the country has sufficient stocks.

“We have the highest amount of fuel in storage now compared to the last five years,” he added.

Though price revisions are done according to a Government formula during the first week of every month, the Minister acknowledged that President Ranil Wickremesinghe has advised advancing the price reduction due to the protest by CPC trade unions.

Hours later, the Lanka IOC also announced that they have revised fuel prices in line with the CPC prices from last night.