"Don't Increase Fuel Prices Immediately": President Tells Cabinet As Gammanpila Heavy Losses Suffered By CPC

The Cabinet has decided not to increase fuel prices immediately.

The decision was taken at a Cabinet meeting chaired by President Gotabhaya Rajapaksa at the Presidential Secretariat last night.

President Rajapaksa has reportedly informed his ministers not to increase the fuel prices immediately.

Udaya Gammanpila, Minister of Energy has stated at the Cabinet meeting that the Ceylon Petroleum Corporation is incurring heavy losses due to the sharp rise in fuel prices in the world market and the appreciation of the dollar.

The decision has been delayed as the government is already facing a severe backlash due to the massive fike in gas prices. A number food items will see a ntable increase in their prices due to the gas price hike.

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