The Cabinet Sub Committee on Cost of Living has approved the increase of fuel prices, Minister Udaya Gammanpila said.
“The new price effective date will be determined by the Ministries of Finance and Energy, ” Minister Gammanpila told Ada Derana.
A Cabinet Subcommittee had been appointed, chaired by Prime Minister Mahinda Rajapaksa, to look into the losses of the State owned petroleum company, the Ceylon Petroleum Corporation (CPC).
The committee met on several occasions to discuss losses incurred by the CPC due to the increase in fuel prices in the world market. (NewsWire)