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Revision of petrol prices

The retail selling price of a litre of 90 Octane Petrol has been increased from Rs. 57 to Rs. 65 from midnight yesterday, the Ceylon Petroleum Corporation said in a press release. The present price of Rs. 60 of 95 Octane petrol has been increased to Rs. 68.

No price increases has been effected with regard to diesel and kerosene.

The Government is mindful of the impact of increase in fuel cost on cost of living and it was decided to increase only in terms of petrol as it would have a minimum impact.

The Ceylon Petroleum Corporation has been incurring a loss of approximately Rs. 4.7 billion in terms of not revising the fuel prices since last February in accordance with the monthly price adjustment formulae which is related to the international oil prices.

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