Fuel Hike

Feb 23, 2012 (LBO) – Sri Lanka’s state-run Ceylon Petroleum Corporation has raised petrol by 3.0 rupees to 162 rupees a liter and auto diesel by 6.0 rupees 121.0 a litre, with super diesel being raised by 3.0 rupees to 145.0 reports said. Sri Lanka’s power regulator, the Public Utilities Commission of Sri Lanka has also set in motion a process to adjust power prices.

LankaIOC, Sri Lanka’s second fuel distributor said it will also raise petrol by 3.0 rupees but would keep diesel prices at the same level. LankaIOC had earlier raised diesel by 6.0 rupees above the CPC price.

Sri Lanka last raised fuel prices in December 14, but diesel was not raised.

The Singapore price of refined, petrol and diesel products are around about 102 to 105 rupees a litre, but petrol is heavily taxed. About 27 percent of retail petrol is tax according to industry officials.