Prime Minister Ranil Wickremesinghe yesterday revealed massive losses in the supply of fuel and electricity. 

During his address to the nation, the Premier at present, the Government incurs a loss of Rs. 84.38 per litre of 92 octane petrol, Rs. 71.19 per litre of 95 octane petrol, Rs. 131.55 per litre of diesel, Rs. 136.31 per litre of super diesel and Rs. 294.50 per litre of kerosene oil. 

“The Petroleum Corporation can no longer bear this loss,” Wickremesinghe said as fuel queues became longer yesterday countrywide due to the shortage.

Similarly, he said that although the Electricity Board charges Rs. 17 per unit of electricity the cost of production is at around Rs. 48 amounting to a loss of about Rs. 30 per unit. “This is also a serious problem,” added the Premier as the country continue to suffer from extended power cuts. 

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