CPC reduces fuel prices, LIOC follows suit

By Chaturanga Samarawickrama   

The retail prices of fuel have been revised with effect from midnight yesterday (10) based on the fuel pricing formula, the Finance Ministry said.   

Accordingly, the prices of fuel were decreased as follows:   

Petrol (Octane 92) will be decreased by Rs.2 per litre making the new price Rs.136, Petrol (Octane 95) will be sold at Rs.159 after it decreased by Rs. 5 per litre. The price of a litre of Super Diesel will be lowered by Rs.5 and the new price will be Rs.131.   

However, the price of a litre of Lanka Kerosene and Auto Diesel will remain at Rs.70 and Rs.104 respectively, the ministry announced. 

Taking the cue from Ceylon Petroleum Corporation (CEYPETCO) the Lanka Indian Oil Corporation (LIOC) announced that it too was reducing petrol and diesel prices with effect from midnight yesterday (10).   

LIOC Senior Vice President (Finance) Mr. Pramod Jain said according to the revision the price of Lanka Petrol (Octane 92) was reduced by Rs.3 per litre and will now be sold at Rs.144, XtraPremium 95 (Euro 4) Petrol was reduced by Rs. 5 per litre and will now be sold at Rs.162 while a litre of Super Diesel (Euro 4) will be sold at Rs.131, a reduction of Rs. 5.   
There is no change in the price of “Lanka Auto Diesel (LAD) which is available at Rs.104 per litre, he said.