Lanka IOC rolls back 92 Octane Petrol price hike

Lanka IOC rolls back 92 Octane Petrol price hike

May 22, 2020   08:40 pm

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Lanka IOC has decided to reduce the price of 92 Octane Petrol by Rs. 5.00 per litre, with effect from midnight today (22).

The revised price of 92 Octane Petrol per litre now stands at Rs. 137.00.

On May 17, Lanka IOC announced a price hike in 92 Octane Petrol. The price of 92 Octane Petrol went up by Rs. 5.00 per litre to Rs. 142.00.

Speaking on the price revision, the spokesperson of Lanka IOC said: “As part of our commitment to stand in solidarity with our valued customers, the citizens of Sri Lanka in these challenging and unprecedented times of COVID-19 pandemic, wherein best efforts are in place to ensure the early revival of economy, we have decided to absorb the losses on the sale of petrol due to increased import duties. The Oil market crash in March 2020 has led to the dismal performance during the January-March 2020 Quarter resulting in a loss of Rs. 346 Mn to the Company.”

While the price of Diesel is already the same as per CPC sheds, the price of a litre of 92 Octane Petrol will also be the same at Lanka IOC sheds with effect from midnight today (22), Lanka IOC said further.

The company also reiterated its commitment to remain a strong partner in serving Sri Lanka in the fulfilment of the country’s energy needs at affordable price.

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