Fuels: ACIM Does Not Exclude Possibility of Challenging Prices in the Court

"We ask for explanations from the Petroleum Pricing Committee (PPC) on the increase. We also consider the possibility of challenging the increase in court, "said Jayen Chellum. He recalled that a similar action was initiated by the Acim in 2008. 

The Secretary General also said Acim expect that Opposition MPs make their voices heard on this issue. 

Friday 1 st March, PPC has decided to revise upwards the price of fuel. The  price of gasoline has increased from Rs 49.30 per liter to Rs 52.25 per liter, an increase of 5.98%. As for diesel, the price rose from Rs 41.20 per liter to Rs 43.95 (+ 6.67%).   

PPC says it is based on four factors to determine the new prices: the persistent upward trend in oil prices on the world market, the calculation of retail prices for gasoline and diesel, review covering the rising operational costs of oil companies that have remained unchanged since 2008, Re 1.42 to Re 1.67 per liter for diesel and Re 1.47 to Re 1.82 for gasoline and level Price Stabilization Account current.