Right of Reply CPC responds to Verité Research opinion column on pricing

Tuesday, 7 July 2026 05:17 - - {{hitsCtrl.values.hits}}

With reference to the Verité article titled “The price is wrong, twice: Sri Lanka’s fuel is both overpriced and under-priced” published in the Daily FT of 15 June 2026 the Ceylon Petroleum Corporation Chairman D.J.A.S. De S. Rajakaruna has sent the following response.

The article contains the following statements: “If CPC is making losses, it is because they paid unduly and unjustifiably higher than average global market prices.”

“IOC, Sinopec and other private entities that sell fuel in Sri Lanka alongside COC will not sell at a loss; but they don’t need to either. They can sell at the same price as CPC, because they, unlike CPC, are not putting their money in the hands of profiteers in the middle.” (See https://www.ft.lk/ft_view__editorial/The-price-is-wrong-twice-Sri-Lanka-s-fuel-is-both-overpriced-and-underpriced/58-793292)

These statements are factually incorrect, unsupported by evidence and appear to have been published without proper verification of the relevant data and market facts. As a responsible media institution, it is essential that information published on matters of national economic importance be based on verified facts and reliable evidence.

It is a well-established fact that Government fuel subsidies and pricing decisions have applied across all licenced fuel marketing companies operating in Sri Lanka. Therefore, the publication of statements suggesting otherwise has the potential to mislead the public and create a distorted understanding of the sector.

In the interest of journalistic accuracy and fairness, we respectively request that the Daily FT review the facts relating to these matters and publish a correction or clarification reflecting the accurate position supported by the relevant data obtained from relevant institutions.”