"We have not taken a decision yet to raise prices. Retail prices were last raised in January when crude oil was 93 dollars a barrel. But even then the CPC made a loss of 1.2 billion rupees," Fowzie said.
"Now crude oil is 30 dollars more, at 123 dollars a barrel, but we have not yet taken a decision to raise prices.
"The whole world keeps increasing retail fuel prices. It is a normal thing. But we're not doing so. We are giving subsidies because we want to protect the consumer."
The CPC is selling only petrol at a profit of three rupees per litre which is sold at 127 rupees.
While overpricing petrol, amidst accusations of fleecing petrol users, a large number of whom are low income motorcycle owners, the petroleum firm under-prices