Energy Minister Udaya Gammanpila today (11) warned of a possible fuel price increase claiming that the world oil prices were increasing steadily.
He said that as the Minister concern he was going to report to the Cabinet about the requirement for the increase.
Minister Gammanpila addressing a news conference explained that the Ceylon Petroleum Corporation was making excessive losses and there was no alternative other than increasing prices.
“If the Cabinet has any other alternative let them provide a solution”, he said.
The hint of an increase of fuel price comes in the wake of increases in prices of gas, milk food, rice and cement.
The Prima and Serendib companies increased price of wheat flour by Rs. 10 per kg with immediate effect today (11).
Accordingly bakery owners were planning to increase prices of their products too. The price of a 450 g loaf of bread will be increased by Rs 5 with effect from midnight today.
Also with the gas price increases eatery owners said they would be revising their prices of food today.
Earlier yesterday (10), Litro Gas Lanka announced the revised prices of its LP Gas cylinders.
The company said the price of a 12.5 kg LP gas cylinder has been increased by Rs. 1,257 per cylinder to be Rs 2,750 (new price).
The price of a 5 kg Litro gas cylinder has been increased by Rs. 503 to be Rs 1,101 (new price) and the 2.5 kg cylinder increased by Rs. 231 to be Rs 520 (new price).
Laugfs Gas also has decided to increase the price of LG gas cylinders.
Accordingly, the price of a 12.5 kg Laugfs domestic gas cylinder is increased by Rs. 984 to be Rs. 2,840 (new price).
The price of the 5 kg Laugfs Gas cylinder has been increased by Rs. 393 to be Rs. 1,136 (new price).
The Gas Companies said the prices have been increased with effect from midnight yesterday (10).
Meanwhile, cement companies have decided to increase the price of a 50kg cement bag by Rs 93, with the new price being Rs. 1098.