LIOC increases diesel by Rs.75, Petrol by Rs.50 per litre

The Price of a litre of petrol has been increased by Rs.50 while the price of a litre of diesel has been up by Rs.75 with immediate effect, LIOC Managing Director  Manoj Gupta said.

Accordingly, the new price of a litre of petrol would be Rs. 254  and a litre of desel would be Rs. 214.

Gupta stated that the decision was made due to the rupee depreciating by Rs.57 against the USD twice in a span of seven days, which has directly impacted the landed cost of gasoil and gasoline, making them more expensive by an equivalent amount per litre.

The Central Bank of Sri Lanka (CBSL) has announced flexibility in the foreign exchange rate and the Sri Lankan rupee has depreciated twice in the last 7 days against the dollar, initially to Rs 230 per USD and then again to an exorbitant level of Rs. 260, from Rs. 203 previously.(Chaturanga Samarawickrama)