Lanka IOC price change questionable – Minister

Gamini Lokuge

Ceylon Petroleum Corporation (CPC) fuel prices will remain unchanged despite the Lanka Indian Oil Company (LIOC) increasing petrol prices from Friday midnight (January 25).

Energy Minister Gamini Lokuge said the sudden price hike was questionable as the government had informed the LIOC’s Board of Directors to maintain fuel prices similar to CPC prices.

However, this would be discussed at the Cabinet of Ministers meeting today (January 28), the Minister said.

The LIOC increased the price of 92 Octane Petrol by Rs.49.00, which is now Rs.303 per liter. The price of 95 Octane went up from Rs.283 to Rs.332 per liter and the price of XtraPremium Euro 3 Petrol went up from Rs.263 to Rs.312 per liter. This is the fifth time the LIOC increased the fuel prices for the past four-month period.

(Source: Daily News – By Lahiru Fernando)

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