Kanchana Wijesekera, Minister of Power and Energy, emphasises that the selected fuel price formula allows for a maximum profit margin of 4% per litre for all fuel suppliers.
Wijesekera noted that he has posted the fuel cost breakdown of the Ceylon Petroleum Corporation (CPC), Lanka Indian Oil Company (LIOC), and Sinopec following the price adjustment made on September 1 on social media site X (previously Twitter).
He also expressed the hope that this would dispel the false and misleading claims made by various people regarding the excessive profits made by other suppliers and the CPC, noting that the maximum profit margin permitted for any fuel supplier is 4% per litre in accordance with the fuel price formula used.
The minister further argued that any provider might offer their goods for less than the maximum price, which is determined each month by the Ministry of Power and Energy.
