Price of Petrol 92 Octane hiked

The Ceylon Petroleum Corporation (CEYPETCO) has decided to increase the price of Petrol 92 Octane by Rs 3.00 per litre, with effect from midnight today (10), the Ministry of Finance announced.

The revised price of Petrol 92 Octane per litre will accordingly be Rs 138.00.

However, the prices of other 3 fuel categories, which are revised in line with the fuel pricing formula, will not be increased, the ministry added.

Despite the hike observed in the global crude oil prices since March, the Sri Lankan government, taking into consideration the recent festive seasons, has decided not to increase the local fuel prices.

As the current global crude oil prices appear to be dropping, the public will benefit from this price crash if the trends continue.

The fuel pricing formula was implemented on 10th May 2018 and Minister of Finance Mangala Samaraweera revealed the pricing formula to the public for the first time on October 18.

Accordingly, the fuel prices are revised on the 10th of every month and the government had decided to increase CPC fuel prices last month.