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Asian Tribune is published by World Institute For Asian Studies|Powered by WIAS Vol. 12 No. 2345

Fuel Prices Increased & a New Formula to be Adhered

Colombo, 11 July, (Asiantribune.com):

Yesterday (10th July) , at the meeting with the President, a decision has been made to increase the fuel prices of Ceylon Petroleum Corporation (CEYPETCO), stated Minster Rajitha Senaratne.

The price hike will be in effect from yesterday midnight. The decision was taken at a meeting with the President.

Accordingly, the new CEYPETCO fuel price revision has increased Petrol 92 Octane by Rs 8, Petrol 95 Octane by Rs 7, Diesel by Rs 9 and Super Diesel by Rs 10.

The decision has been taken to increase fuel prices of CEYPETCO outlets from yesterday midnight, Minister Rajitha Senaratne said.

The decision was taken at a meeting with the President.

Fuel prices were increased last week but the decision was withdrawn following an order was given by the President.

Minister Senaratne said the decision was taken following a discussion with the President at the President Secretariat yesterday evening.

“The fuel price was increased according to the fuel pricing formula and each month the price will be calculated according to the world market prices,” he said.

The petrol price had to be increased by Rs.14 according to the price increase in the world market but the President had taken the decision to charge half the price while bearing the loss.

The meeting was held at the President Secretariat with Finance Minister Mangala Samaraweera, Petroleum Minister Arjuna Ranatunga, Health Minister and Cabinet Spokesman Rajitha Senaratne, Social Welfare and Primary Industries Minister Daya Gamage Ministry Secretaries and several officials chaired by President Maithripala Sirisena.

Accordingly -

Petrol (Octane 92) which was priced at Rs137. will be increased by Rs.8 to Rs.145,

Petrol (Octane 95) will be increased from Rs.119 by Rs. 7 to Rs. 148 by Rs.7 to Rs.155,

One litre of Auto Diesel increased from Rs.109 by Rs.9 to Rs.118, and

One litre of Super Diesel will be increased from Rs.119 by Rs.10 to Rs.129

However, the price of Lanka Kerosene will remain at Rs.70.

- Asian Tribune -

Fuel Prices Increased & a New Formula to be Adhered
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