Sri Lanka, Oct. 2 -- Ceylon Petroleum Corporation (CPC) Chairman D.J.Rajakaruna stated that they were still incurring losses despite providing a Rs.70 subsidy per litre of diesel amid surging global oil prices.

Speaking at a special press briefing held at the CPC head office in Colombo yesterday (1), he noted that the government and the corporation had taken measures to offer maximum relief to consumers by not increasing domestic prices in tandem with global market hikes.

Chairman Rajakaruna explained that the revision of domestic fuel prices had become unavoidable owing to the rapid escalation of crude and refined oil prices globally.

He said the crisis in the Middle East, as well as the Russia-Ukraine war, which had led to attacks o...