Energy Minister summons report over LIOC decision to hike Petrol prices

COLOMBO (News 1st); The Ministry of Energy has decided to call for a report on Lanka IOC's decision to raise petrol prices again.

Minister Gamini Lokuge says he had previously instructed LIOC to maintain fuel prices in line with CEYPETCO fuel prices, however the LIOC took action to increase the price of a liter of Petrol by Rs. 49/-.

The Minister said he has called for a report from his ministry secretary on the legal provisions under which action can be taken over the latest decision to increase prices.

Lanka IOC increased the price of a liter of petrol by Rs. 49/- with effect from midnight yesterday (25), and accordingly, the new price of 92 octane IOC petrol will be Rs. 303 per liter while a liter of 95 Octane petrol will cost 332 rupees.