Prices cannot be reduced due to conditions Kanchan reached with fuel companies

President Anura Kumara Dissanayake revealed one of the main problems that has arisen in the reduction of fuel prices. It is said that the problem has been created due to a condition in an agreement signed between the government and foreign companies involved in the fuel trade in Sri Lanka.
According to that condition, if the Ceylon Petroleum if the Corporation sells fuel at a lower price than the fuel price formula, other companies involved in the fuel trade in Ceylon will also sell fuel at the same reduced price. However, those foreign companies recover from the government the amount they reduce.
At present, four other companies operate in the country’s fuel market in addition to Ceylon Petroleum Corporation.
The President also claims that several companies have already requested money from the government after the government reduced the price of fuel last time. President Anura Kumara Dissanayake disclosed this while participating in the ‘Satana’ television program, which was broadcast Wednesday on Sirasa TV.

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