Fuel prices have been increased due to the significant increase in the Platts prices over the last 3 months, Minister of Power and Energy Kanchana Wijesekera stated today. 

Taking to ‘X’, Minister Wijesekera said that the Ministry of Power and Energy set the maximum retail price for fuel for the month of September as of midnight yesterday. 

“There have been significant increases in the Platts prices over the last 3 months. Platts prices have increased from USD $80-85 per barrel average in May and June to USD $ 85 per barrel average in July and to USD $ 100-110 per barrel average in August,” he said.

Minister Wijesekera said that, however, Super Diesel prices are not significantly affected due to the last cargo purchased by the Ceylon Petroleum Corporation (CPC) in July this year.

The minister added that the government has strictly followed the fuel pricing formula adopted and will continue to do so in future price adjustments as well. 

Following are the Fuel Cost Breakdown after price adjustment, Platts Prices From May to September, and Platts Increases, respectively.