The Indian Oil Company (IOC) in Sri Lanka had increased their Diesal and Petrol prices from Rs.5 and Rs.9 per liter respectively with effect from midnight last night(23).
Accordingly the new price of a Lanka IOC -LP 92 Diesal Liter in IOC Oil refilling centers after the price increase will be Rs.100 per a liter of Diesal and Rs.126 per a liter of Petrol.The prices of other special varieties of fuel sell by IOC had also increased according to the authorities.
The prices of Diesal,Petrol and other varieties of Fuel have been increased due to the price of a Crude Oil barrel has been increased up to US Dollars 69 in the world market IOC has stated.
Due to the previous prices of Diesal and Petrol in Sri Lanka the company has incurred a loss of Rs.17 per Diesal Liter and Rs.12 per a liter of Petrol company has said.IOC is expecting a tax reduction from the government to reduce the prices that have increased since midnight last night it has been announced.
However state owned Ceylon Petroleum Corporation will not increase the Fuel prices at the moment it has been announced.
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