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Fuel price increased from midnight today

11 February 2019 09:31 pm - 15     - {{hitsCtrl.values.hits}}

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The retail prices of fuel have been increased with effect from midnight today based on the fuel pricing formula, the Finance Ministry said.

Accordingly, the prices of fuel were increased as follows:

Petrol (Octane 92) will be increased by Rs.6 a litre and the revised price is Rs.129, Petrol (Octane 95) will now be sold at Rs.152, after an increase by Rs.5 a litre. 

The price of diesel should have to been increased by Rs 9.59 in keeping with the latest global market price of crude oil, the Ministry said. 

However, one litre of Auto Diesel will be increased by Rs.4 and the new price would be Rs.103, while one litre of Super Diesel will be increased by Rs. 8 and the new price would be Rs.126.

However, the price of Lanka Kerosene will remain at Rs. 70 per litre. 

Despite the fuel price revision, the ministry said there would be no increases in transport charges.

Meanwhile, the Finance Ministry said fuel prices were reviewed on the 10th of every month under the fuel pricing mechanism introduced in May 2018. 

When the oil prices were upwardly revised last on October 10, the price of a barrel of crude oil had gone up to US Dollar 84. It came down to USD 70 by November 2018 and it was reported to be 53 when the fuel prices were last reduced on January 10, 2019.

When the fuel prices were increased for the first time in May 2018 under the pricing formula the local selling price of Petrol was Rs 137 per liter and by now it has come down to Rs 129 per liter. 

The Diesel price which was at Rs 129 per litre in May 2018 has today has come down to Rs 103 a liter. However, unfortunately the bus fare, three wheeler fare and other transport charges were unreasonably increased higher percentage than the fuel price revision. 

Under this context, the government stresses that there is no reason for any  fare increase in any of the transport or other logistics sectors on par with this latest fuel price revision. (Chaturanga Samarawickrama)

 

Video by Sanjeewa

  Comments - 15

  • DHA Monday, 11 February 2019 10:07 PM

    This is what the people wanted and this is what they'll get.....

    Ragula Tuesday, 12 February 2019 07:53 AM

    If you referring to the change on October 26th, you can't change your father because he is not taking care of you but your mother can divorce him with the correct legal procedure.

    Raj Monday, 11 February 2019 10:34 PM

    Mangalage soothu

    Suresh Monday, 11 February 2019 11:46 PM

    Digging their grave

    Jude Monday, 11 February 2019 11:53 PM

    CAN'T understand, WHAT warranted a price hike in Fuel !??? No significant upwards price movement in world crude oil prices!!!

    concern Tuesday, 12 February 2019 12:53 AM

    In order to align with the conditions that is required to obtain further loans our country needs to disclose our revenue. Since it is not obtained by exports they increase our taxes and other items.

    Priya Tuesday, 12 February 2019 01:05 AM

    I don't understand a damn thing this government does !!! Are these fellows crazy or what ?

    Sunil Tuesday, 12 February 2019 03:48 AM

    These idiots made a big hue and cry when the price was slightly reduced a month ago. This is the final result,adding more burdens on the people while they make merry.

    selvin Tuesday, 12 February 2019 05:18 AM

    MR should come back to reduce the prices.

    Leee Tuesday, 12 February 2019 06:00 AM

    No decrease in fuel ⛽️ i

    Saranga Tuesday, 12 February 2019 06:35 AM

    Fuel should be adjusted daily not monthly so the changes will be minimal and painfree for everyone Why SL is decades behind adopting some of the benchmarks in the world??

    Unchikun Tuesday, 12 February 2019 06:59 AM

    This is a correct move by the government and the minister. The price of crude has risen in the last few weeks. We have to at least now learn to pay for what we get. The media should make the people aware of this fact. The negative side is that the government is not disclosing the method of fuel price calculation. Please do so.

    Unchikun Tuesday, 12 February 2019 07:13 AM

    This is a correct move by the government and the minister. The price of crude has risen in the last few weeks. We have to at least now learn to pay for what we get. The media should make the people aware of this fact. The negative side is that the government is not disclosing the method of fuel price calculation. Please do so.

    Slay Tuesday, 12 February 2019 07:38 AM

    The Government may lose the provincial council, parliamentary elections and the Presidential election due to Mangala for sure.

    Joseph rajah Wednesday, 13 February 2019 07:24 AM

    I cannot believe why the gas prices are high in SL. In USA one gallon of gas is $2.10 and five pounds of sugar is $1.50 why they can do this in SL. People are concern about religion than human dignity.


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