Price Revision of 95 Octane petrol & Super diesel

COLOMBO (News 1st) - Petrol and diesel prices have been adjusted under the new price formula today (August 10). Price of a 95 octane petrol litre and price of a litre of super diesel will be increased by Rs. 2 and Rs. 1 respectively from midnight tonight. Thereby the new price of a 95 Octane petrol litre is Rs. 157 while the new price of a litre of super diesel is Rs. 130. This was revealed at a media briefing at the Ministry of Finance. The committee working on the issue comprises of officials from the Treasury and Ministry of Petroleum Resources Development. The revision is based on the pricing formula that was introduced to come into effect on the 10th of every month based on global market prices. However, the prices of 92 Octane petrol and normal diesel have not been revised. Minister Mangala Samaraweera stated that the prices of fuel as per Singapore's E Flat index showed a drop in the first half of this month. It was at $81.67 during the previous price revision. During the past two weeks with the rising of tension in Iran, the global market prices have begun to increase gradually. On 03 August, the fuel prices had increased up to $81.50, the same price as at 06 July. He said that he believed that if the tensions in the middle east reduce, fuel can be issued at prices lower than the previous prices. He also highlights that the fuel prices are still lower than that during the Rajapaksa regime.