Tuesday, 22nd June 2021

Ceylon Petroleum Corporation hikes price of petrol

Colombo, June 10 (BAN/ AD): The price of Petrol has been increased by Rs 3.00 per litre, with effect from midnight today as announced by Ceylon Petroleum Corporation (CEYPETCO) this has been confirmed by the Ministry of Finance. The revised price of Petrol 92 Octane per litre will accordingly be Rs 138.00.

The prices of other 3 fuel categories, which are revised in line with the fuel pricing formula, will not be increased, Ministry of Finance said. Despite the hike observed in the global crude oil prices since March, the Sri Lankan government, taking into consideration the recent festive seasons, has decided not to increase the local fuel prices.

The Ministry of Finance has said as the current global crude oil prices appear to be dropping, the public will benefit from this price crash if the trends continue.

On 10th May 2018 the fuel pricing formula was implemented and Minister of Finance Mangala Samaraweera revealed the pricing formula to the public for the first time on October 18.

As per fuel pricing formula the fuel prices are revised on the 10th of every month and the government had decided to increase CPC fuel prices last month.

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