⛽ Govt. to Amend Agreements with Private Fuel Distributors as CPC Diesel Market Share Rises to 77%

President Anura Kumara Dissanayake announced plans to revise contractual agreements with private fuel suppliers, aiming to enhance market regulation, protect consumer interests, and address supply disruptions in Sri Lanka's energy & fuel sector. Key Highlights & Market Figures: • CPC Market Share: State-owned Ceylon Petroleum Corporation (CPC) diesel market share expanded from 58% to 77%, amid reported stock shortages at privately operated filling stations. • Price Adjustment Pressures: Private fuel distributors requested steep price hikes ranging between Rs. 116–132 per litre for diesel. • State Price Stabilization: CPC restricted its diesel price increase to around Rs. 10 per litre, absorbing cost pressures via a reported subsidy of Rs. 70 per litre to mitigate public financial burden. • Regulatory Scope: Current contractual frameworks limit government legal action during supply failures; proposed amendments seek greater operational flexibility to fill market supply gaps if private entities fail to meet the remaining 23% demand.