The Hon. Kumara Jayakody - Minister of Energy

Jathika Jana balawegaya· National List· 17 December 2024 ·Oral question: Oral Questions: Paddy Stocks, Fuel Price Revisions, and Teacher Scarcity (Q.11, Q.12, Q.10/2024)

Public Finance

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The Minister of Energy tabled a written answer stating that fuel prices were revised on two occasions, with no changes on 31 October 2024 and revised prices set on 30 November 2024, including Petrol 92 at Rs. 309, Auto Diesel at Rs. 286, and Kerosene at Rs. 188 per litre. He said pricing was based on the fuel price formula, though no adjustment was made for Sapugaskanda refinery profit or loss, and provided formula-based price figures for each fuel category. He further stated that the current legal framework applies the formula, which is being studied for possible future revisions, and that reductions in international prices are passed on to consumers through monthly price alignment.

Verbatim record (translated)

Machine-translated from Sinhala / Tamil / English

¶ 01 Hon. Speaker, I table the answer.

¶ 02 (a) (i) Two occasions. (ii) Revised price (per litre): - Lanka Petrol 92 Octane: 2024.10.31 — No change; 2024.11.30 — Rs. 309.00 - Lanka Petrol 95 Octane Euro 4: 2024.10.31 — No change; 2024.11.30 — Rs. 371.00 - Lanka Auto Diesel: 2024.10.31 — No change; 2024.11.30 — Rs. 286.00 - Lanka Super Diesel 4 Star Euro 4: 2024.10.31 — No change; 2024.11.30 — Rs. 313.00 - Lanka Kerosene: 2024.10.31 — No change; 2024.11.30 — Rs. 188.00 (iii) Yes. However, in revising fuel prices, no adjustment was made to offset refinery profit or loss at Sapugaskanda. (iv) Prices per the fuel price formula: - Petrol 92: 2024.10.31 — Rs. 310.15; 2024.11.30 — Rs. 308.99 - Petrol 95 Euro 4: 2024.10.31 — Rs. 370.99; 2024.11.30 — Rs. 370.35 - Auto Diesel: 2024.10.31 — Rs. 282.70; 2024.11.30 — Rs. 286.40 - Super Diesel 4 Star Euro 4: 2024.10.31 — Rs. 313.18; 2024.11.30 — Rs. 312.71 - Kerosene: 2024.10.31 — Rs. 182.62; 2024.11.30 — Rs. 188.31

¶ 03 (b) (i) Yes. Within the prevailing legal framework, pricing follows the formula. The formula is under study to introduce necessary revisions in future. (ii) Not applicable. (iii) Benefits of international price reductions are passed to consumers monthly through price alignment.

¶ 04 (c) Not applicable.

Provenance

Source: Hansard, Tuesday, 17 December 2024 ·No. 1734685396083959 ·English daily/uncorrected Hansard
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Cite as: The Hon. Kumara Jayakody - Minister of Energy. 10th Parliament, Parliament of Sri Lanka. Hansard, 17 December 2024. No. 1734685396083959. Politick, https://staging.politick.io/lk/speeches/18179