Lanka IOC also decides to increase fuel prices

The IndianOil’s subsidiary in Sri Lanka has also decided to increase the fuel prices, mirroring the Ceylon Petroleum Corporation’s move.

Lanka IOC announced its decision after the Ceylon Petroleum Corporation increased fuel prices with effect from 3.00 a.m. today (May 24).

Thereby, the price of Octane 92 petrol was raised by Rs. 82 per litre while Octane 95 petrol went up by Rs. 77 per litre. Meanwhile, the price of Auto Diesel was increased by Rs. 111 per litre and Super Diesel by Rs. 116.

Revised fuel prices (per litre) announced by the CPC are as follows:

Octane 92 Petrol – Rs. 420
Octane 95 Petrol – Rs. 450
Auto Diesel – Rs. 400
Super Diesel – Rs. 445

Power and Energy Minister Kanchana Wijesekara said the fuel pricing formula, approved by the Cabinet of Ministers, was applied to revise the CPC’s fuel prices.

Price revision includes all taxes and costs incurred in importing, unloading, and distributing fuel to filling stations. However, profits are not calculated and included, he added. – ada derana

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