The government will introduce a floor and ceiling price for fuel with the launch of business operations by Sinopec, a leading international petroleum company, in the country shortly, a top source said.
Sinopec has already signed the agreement to distribute fuel in Sri Lanka. Sinopec will be allocated 150-dealer operated fuel stations in the country. Besides, two other foreign fuel companies will be allowed to operate in the country later. Currently, the state-owned Ceylon Petroleum Corporation and Lanka Indian Oil Company are the only fuel distributors in the country.
Sinopec has already signed the agreement to distribute fuel in Sri Lanka. Sinopec will be allocated 150-dealer operated fuel stations in the country. Besides, two other foreign fuel companies will be allowed to operate in the country later. Currently, the state-owned Ceylon Petroleum Corporation and Lanka Indian Oil Company are the only fuel distributors in the country.