LIOC still wants increase

15 Jul 2011 - {{hitsCtrl.values.hits}}

In the midst of the existing CPC petroleum crisis Lanka Indian Oil Company (LIOC) today said that it is in urgent need of a fuel price hike and was still waiting for a positive response from the Government to increase its prices.

LIOC Managing Director, Suresh Kumar said that the was in urgent need of increasing its petrol and diesel prices. He said the prevailing quality issue in substandard petrol imported by the Ceylon Petroleum Corporation will have no impact on LIOC’s intentions to increase its fuel prices.

“The prevailing problem is a quality issue and should not have any impact on LIOC’s intention to increase petrol and diesel prices,” Kumar said. LIOC hopes to increase the price of petrol by Rs.25 and diesel by Rs.3 owing to large losses incurred by the company, he said.

He said the government is doing what it can at this time to resolve the petroleum crisis and is positive that the government will address LIOC’s request to increase its prices. (Olindhi Jayasundere)

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LIOC still wants increase

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