Following the fuel price revision by the Finance Ministry on Tuesday night (12), the Lanka Indian Oil Corporation (LIOC) had also decided to increase the prices of Super Diesel (Euro 4) and Xtra Premium 95 Petrol (Euro 4) with effect from last night (13).
“There is no increase in the price of Lanka Auto Diesel (LAD), Lanka Petrol 92 Octane (LP92) and Xtra Premium Petrol (Euro 3) had been made, LIOC Senior Vice President (Finance) Pramod Jain said.
He said that according to the current revision Super Diesel (Euro 4) would be increased by Rs.8 per liter and it would be sold at Rs.134 at LIOC fuel stations.
The price of a litre of Xtra Premium 95 Petrol (Euro 4) had been increased by Rs.7 and it would be Rs.162, he said.
Accordingly, the price of one liter of Lanka Auto Diesel (LAD) would be sold at Rs.113. A litre of XtraMile Diesel would be Rs.117. Lanka Petrol 92 Octane (LP92) would be sold at Rs.132 per liter and the price of a litre of Xtra Premium Petrol (Euro 3) would be 138.
However, the price of Lanka kerosene will remain as Rs. 70 per litre, he said.
He said the prices of diesel had further gone up significantly in the International market in the recent months, but the selling prices of diesel had not been revised in line with the pricing mechanism by the Sri Lankan Government.
In view of the above, LIOC has been left with no other option but to increase the prices of Diesel, as the quantum of losses has become unbearable. However, in the case of Petrol, the selling price has been made equal as applicable at Ceylon Petroleum Corporation (CPC).
“The current revision in the prices of auto fuels will partially mitigate the losses on the sale of petrol and diesel,” Mr Jain added. (Chaturanga Samarawickrama)