Fuel prices to be reduced fourth straight time from midnight

oil-pump

Jan 10, 2019 (LBO) – Sri Lanka’s government has decided to reduce the Petrol and Diesel prices by 2 rupees per liter each with effect from midnight today.

However, the price of Super Diesel which is an environmentally friendly fuel was reduced by 3 rupees per liter as it complies with Euro -04 Emission Standard as well.

Type of Fuel Present Price/Liter (Rs) Reduced Price/Liter (Rs) Reduced By (Rs)
Octane 92 Petrol 125 123 2
Octane 95 Petrol 149 147 2
Auto Diesel 101 99 2
Super Diesel 121 118 3

Fuel prices are reviewed every 10th day of the month under the fuel pricing mechanism by the Government.

“Though the prices were reduced today, the international oil prices tend to increase continuously from the second week of January onwards,” the Finance Ministry said.

When the oil prices were upward revised on the last October 10, the price of a barrel of crude oil was 85 US dollars. It came down to 58 dollars on October 26, and when the fuel prices were last reduced on December 21, the Crude oil price was 52 dollars.

“However, since the 2nd week of January 2019, the crude oil price and the prices of refined products are reported to be on the increase,”

“The crude oil represented by BRENT price index and the refined petroleum prices represented by Singapore’s PLATTs price is moving upward and by January 10 it has gone up to 59 dollars.”