Kerosene Sales Declined by 400% With Price Increase

Kerosene sales have declined by a whopping 400 percent since the removal of the kerosene subsidy this month,

The government revised fuel prices early this month for the first time since 2015, and the Cabinet approved a pricing formula that will re-price fuel prices every two months going forward.

Accordingly, the price of a petrol litre was increased by Rs.20 and diesel by Rs.14. The biggest increase was on kerosene, jacking up the price to Rs.101 from Rs.44.

Speaking at the launch of the ministry’s new website, Petroleum Resources Development Minister Arjuna Ranatunga said bus and lorry owners have particularly substituted kerosene for diesel and other fuels due to subsidised kerosene prices. With the increase in kerosene  price sales have come down to 400% indicating large scale abuse of kerosene for adulteration of more expensive distillates and greater industrial use of the fuel have been minimized.