Lanka IOC requests fuel price hike again

Lanka Indian Oil Company has requested permission from the government to increase fuel prices again. It has been reported that Lanka IOC had made this request due to the financial losses suffered by the company continuously.

Crude prices in the global market had risen recently and consequently Lanka IOC had stated that an increase in fuel prices was necessary. However the Petroleum Ministry had denied permission for the price hike.

Lanka IOC, IndianOil’s subsidiary in Sri Lanka, has now once again requested that the price of a diesel liter be increased by Rs.5 and a petrol liter increased by Rs.25.

Courtesy: Ada Derana

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