Printed on Wed Aug 10 2022 5:15:13 PM

Prices of fuel in Sri Lanka Climbs up to the Record

International desk
fuel price climbs
Sri Lanka's state-owned Ceylon Petroleum Corporation (CPC) has expanded its fuel costs from midnight Monday, April 18, to a record climb.

With the most recent cost climb, the price of Octane 92 petrol rose by 33.1% to a record 338 Sri Lankan rupees (1.04 U.S. dollars) a liter, and the price of auto diesel increased by 64.2% to 289 rupees.

This is on a standard with the costs of Lanka IOC, an auxiliary of Indian Oil Corporation, which climbed its fuel costs from 12 PM Sunday.

CPC Chairman Sumith Wijesinghe said last week that they were losing between 800 to 1,000 billion rupees a day due to selling the fuel at a below-market rate.

It was not the first time the CPC increased fuel prices this year and it presented fuel proportioning on April 15. (1 U.S. dollar equals 326 Sri Lankan rupees)

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