Ceypetco fuel price revision expected after LIOC’s move?

March 26, 2022 03:03 pm

Energy Minister Gamini Lokuge says the Ceylon Petroleum Corporation (Ceypetco) does not intend to increase fuel prices at the moment.

His comments came after Lanka IOC, the IndianOil’s subsidiary in Sri Lanka, increased the prices of all types of petrol for the fourth time this year.

The rates went up by Rs. 49.00 with effect from midnight yesterday (March 25).

Accordingly, the price of 92 Octane Petrol, which was previously at Rs. 254, now stands at Rs. 303 per litre.

Meanwhile, the rates of 95 Octane went up from Rs. 283 to Rs. 332 per litre. The price of XtraPremium Euro 3 Petrol was increased from Rs. 263 to Rs. 312 per litre.

Lanka IOC said it is compelled to raise the petrol prices due to the unwanted conditions caused by the currency depreciation and soaring rates in the global market.

According to a statement issued by the company, the prices of diesel will remain unchanged.

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