Issuing a statement, the CPC said the price of a liter of kerosene increased by 253 Sri Lankan rupees (0.7 U.S. dollar) to 340 rupees.
Kerosene is used among several vulnerable communities and was earlier sold at a subsidized rate of 87 rupees.
Last month, speaking in parliament, Minister of Power and Energy Kanchana Wijesekera said that they planed to raise the price of kerosene and give a subsidy to low-income groups.
He said that the cost to produce a liter of kerosene is 421 rupees.
Selling kerosene at a subsidized rate is one of the main reasons why the CPC makes a loss, the minister said. (1 U.S. dollar equals 361 Sri Lankan rupees)
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