The Petroleum Dealers Association states that they will cease placing new fuel orders with effect from midnight today (Feb. 28).
The decision was announced during a media briefing this afternoon.
They have also decided not to supply fuel on credit to any state institution moving forward.
The Ceylon Petroleum Corporation (CPC) has taken steps to abolish the 3% discount currently available to fuel distributors and to make payments according to a new formula, effective from tomorrow (01).
This has come into effect according to a circular issued in March 2022, and accordingly, the amount currently being paid is unlawful, according to the CPC Chairman, D.J. Rajakaruna.
