The fuel price revision for October is scheduled to be announced tonight (30), Energy Minister Anura Karunathilaka stated.

The Minister stated that the Government plans to provide a subsidy of Rs. 70 per litre of diesel under the upcoming revision.

He noted that fuel distributors have informed the Government of losses resulting from higher global fuel prices, with reported diesel losses ranging from around Rs. 120 to Rs. 247 per litre depending on the company.

Karunathilaka stated that the Ceylon Petroleum Corporation is bearing a significant financial burden through the subsidy, and the Government is taking steps to prevent the corporation from incurring a loss by the end of the year.

The diesel subsidy will not be extended to petrol, he added