Petrol prices reduced: LIOC

The Lanka Indian Oil Corporation (LIOC) yesterday announced a reduction in petrol prices with effect from last night, LIOC Vice President of Retail, Sales and HR of Sri Lanka Girish Ranjan said.

He said that according to the revision the price of Lanka Petrol 92 Octane (LP92) and Xtra Premium Euro-3 Petrol was reduced by Rs.2 per litre.

Accordingly, LP92 and Xtra Premium Euro-3 Petrol will be sold at Rs.142 and Rs.148 while a litre of XtraPremium 95 (Euro 4) Petrol will be sold at Rs.164

There would be no price changes in Lanka Auto Diesel (LAD), Xtra Premium 95 Petrol, Lanka Super Diesel (Euro 4) and XTRAMILE Diesel.

A litre of Super Diesel (Euro 4), Lanka Auto Diesel (LAD), XtraMile Diesel willbe sold at Rs.132, Rs.104 and Rs.108.

The price of Lanka Kerosene will remain at Rs.70 per litre.

"The prices of diesel has not been revised despite absorbing huge losses as the prices of petroleum products have gone up significantly in the international market in recent months," he said.

The petrol prices had been revised while considering the larger interest of channel partners and the sensitiveness of petrol prices, he added.

The company stated that the price reduction was done although LIOC was incurring huge losses in the sale of auto fuel in the Sri Lankan market. (Chaturanga Samarawickrama)