Fuel prices go up

The Ceylon Petroleum Corporation (CEYPETCO) has taken steps to increase its retail fuel prices effective from midnight today (01). Under this new revision, implemented according to the government's monthly fuel price formula, petrol and diesel prices have increased, but there has been no change in kerosene prices.

According to the new prices, the price of a liter of Octane 92 petrol has been increased by Rs. 10, with its new value being Rs. 424. Previously, its price was recorded as Rs. 414. Similarly, the price of a liter of Octane 95 petrol, which was Rs. 475, has been increased by Rs. 15, raising its new price to Rs. 490.

Diesel prices have also increased accordingly. Accordingly, a liter of Lanka White Diesel, which was sold for Rs. 392, has been increased by Rs. 5, and its new retail price is Rs. 397. A price increase of Rs. 15 has been imposed on a liter of Lanka Super Diesel, so its new price is recorded as Rs. 543. However, the price of Lanka Kerosene has not been revised and continues to be sold at Rs. 285 per liter.

This step has been taken in accordance with the monthly fuel price formula introduced by the government, based on fluctuations in global crude oil prices and changes in the country's foreign exchange rates. According to the usual procedure, it is expected that other companies involved in fuel supply across the island will also adjust their retail prices accordingly following this announcement by the Ceylon Petroleum Corporation.