(UTV | COLOMBO) – Trade unions claim the Ceylon Petroleum Corporation is preparing to increase domestic fuel prices based on the Russia-Ukraine crisis.
Trade unionist Ananda Palitha said fuel prices will be increased next week.
He noted Lanka IOC gained a profit of Rs.1.2 billion due to recent price increases.
Palitha said Lanka IOC gained unlimited profits from January 2020 till March 2021 adding fuel prices were increased in December last year when global fuel prices were decreasing.
He stated Lanka IOC increased fuel prices higher than the rates the CPC wanted to increase.
Palitha said the general public will be burdened further when the CPC increases domestic fuel prices adding operations of factories are impacted at present.