President AKD: Diesel Costs Rs. 720 Globally, Govt Bears Rs. 100 Subsidy Per Litre

President Anura Kumara Dissanayake stated that escalating global fuel prices, influenced by Middle East conflicts, have driven the cost of a litre of diesel to approximately Rs. 720. Addressing the Nuwara Eliya District Special Coordinating Committee, he noted that decisions to increase fuel prices are aligned with the government's goal to reduce consumption. Currently, diesel is provided to the public at Rs. 392 per litre, with the government subsidizing each litre by about Rs. 100. This practice, coupled with a more than six-fold rise in the oil import bill between February and May, is resulting in heavy losses for the Ceylon Petroleum Corporation (CPC) and is deemed unsustainable in the long run.