The Petroleum Pricing Committee (PPC) will meet before 11 May to decide on the revision of petrol and diesel prices. Consumer associations and petrol station managers are expecting a price cut.
In this regard, State Trading Corporation (STC) managing director Rajiv Servansingh said the date was not yet fixed, but the committee would have to meet before May 11. However, he pointed out that the Price Stabilisation Account still has a big deficit.
He added: “The price of diesel should have gone up twice, but according to the provisions of the law, the Minister of Commerce objected. As a result, the deficit has grown even larger.
Consumer associations and petrol station managers insist on lower prices. However, the STC suggests that the Price Stabilisation Account remains in deficit.