Lanka IOC increases fuel prices

COLOMBO (News 1st) - Lanka IOC has increased their fuel prices in line with the recent CPC price revision. The Price of a litre of 95 Octane Petrol and a litre of Super Diesel was increased by Rs. 2 and Rs. 1 respectively from midnight. Thereby the new price of a liter of 95 Octane petrol is Rs. 157 and a liter of super diesel is priced at Rs. 130. 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. Thereby the second review of fuel prices under the formula was scheduled for yesterday (August 10). During a media briefing held at the Ministry of Finance, it was revealed that the prices of 92 Octane petrol and Lanka auto diesel will remain unchanged. This is the 5th instance that fuel prices were amended during the past 3 months.