Lanka IOC slashes Petrol prices


Lanka Indian Oil Company (LIOC) has decided to reduce the Petrol prices with effect from midnight today (11).Considering the larger interest of channel partners & sensitiveness of Petrol prices, Lanka IOC reduced the Prices of Petrol 92 Octane (LP92) and Xtra Premium Euro-3 Petrol by Rs 2.00 per litre, the company’s Senior Vice-President (Retail Sales & Human Resources) Girish Ranjan said issuing a media release.

The prices of Diesel has not been revised despite absorbing huge losses as the prices of Petroleum Products have gone up significantly in the international market in the recent months, the LIOC says.There is no change in the price of Lanka Auto Diesel (LAD) and Xtra Premium 95 Petrol & Lanka Super Diesel (Euro 4), & XTRAMILE Diesel, the release read further.
Meanwhile, the Ministry of Finance yesterday (11) announced that the fuel prices would not be subjected to any revision under the fuel pricing formula this month.Fuel prices are usually revised on the 10th of each month based on the fuel pricing formula, which takes into account the global oil prices and other factors.However, the Ministry of Finance said that there will be no fuel price revision this month.