Lanka IOC increases fuel prices - CEYPETCO prices remain unchanged

COLOMBO (News 1

st

) - Lanka IOC has increased the prices of petrol and diesel with effect from midnight yesterday (March 23).

In a statement, Lanka IOC stated that the price of a liter of diesel and petrol was increased by 05 and 09 Rupees respectively.

Accordingly, the new price of a liter of Petrol and diesel sold by Lanka IOC is 126 and 100 Rupees.

Senior Vice President of Lanka IOC Sidharth Agarwal said that prices of Super Diesel and Super Petrol remain unchanged.

However, Chairman of the Ceylon Petroleum Corporation (CPC) said no decisions have been made with regard to increasing the price of fuel sold by CEYPETCO filling stations.

“

Majority of the fuel supply is done by the CPC. Since we have not made a decision about this, you need not worry. We will be distributing fuel from 1254 petrol stations, as usual.” - Chairman of the CPC, Dammika Ranatunga

Sidharth Agarwal said while Lanka IOC, has an 18% stake in the local fuel market, government approval is not required when changing fuel prices.

With the new price increase, Diesel and petrol will be distributed under two price schemes in the country.