Fuel prices up

The Treasury in keeping with the fuel pricing formula has increased the price of a litre of Petrol 95 Octane by Rs. 2 to Rs. 157, while Super Diesel was increased by Rs.1 to Rs. 130. The price would be in effect until the next fuel price revision on October 10.

“Due to the instability in Iran and fluctuating fuel prices globally, we have been compelled to increase the price per litre of Super Petrol of Octane 95 and Super Diesel,” Finance and Media Minister Mangala Samaraweera said.

“We will not increase the price of Petrol of Octane 92 or auto-diesel,” he said.

The Minister while reiterating that the prices were still lower in comparison to the previous regime noted that the price would be in effect until the next revision.

The Minister added that global fuel prices dipped in around July 20 to Rs. 78 but hiked up again by August 3 to Rs. 81.

“We believe that for the next price revision, the prices may come down.” he said. The fuel price revision is applicable to both Lanka IOC and State owned Ceypetco.

Fuel price was revised on July 6 this year when the price of Petrol of Octane 95 was increased by Rs.7 to Rs.155 and Super Diesel was increased by Rs. 10 to Rs. 129.

Petrol of Octane 92 was also increased by Rs. 8 to Rs. 145 and Auto-diesel by Rs.9 to Rs. 118.



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