The fuel price revision for October is scheduled to be announced tonight (30), Energy Minister Anura Karunathilaka said. Speaking at a media briefing today, the Minister said the fuel price revision is generally carried out on the final day of each month.

He said the government plans to provide a subsidy of Rs. 70 per litre of diesel as part of the upcoming revision.

Minister Karunathilaka said fuel distributors in Sri Lanka have informed the government of losses incurred due to the recent increase in global fuel prices.

According to the companies, losses on diesel have reportedly reached approximately Rs. 120, Rs. 135, Rs. 192 and Rs. 247 per litre, depending on the company.

The Minister said the Ceylon Petroleum Corporation (CPC) is bearing a significant financial burden by providing the fuel subsidy.

He added that steps are being taken to ensure that the CPC does not incur a loss by the end of the year.