Sri Lanka to obtain USD 3.6 Billion loan from Oman to buy fuel

Udaya Prabhath Gammanpila

Cabinet approval has been granted to obtain a loan of USD 3.6 billion from Oman to purchase fuel, said Energy Minister Udaya Gammanpila.

Delivering a statement issued today (October 22), the minister stated that preparations for agreements are currently underway.

Additionally, a loan facility of USD 500 million is expected to be obtained from India and it has been submitted for the Treasury’s approval, Minister Gammanpila said further.

The energy minister assured that there will be no fuel shortage in the country.

Lanka IOC has decided to increase the price of 92 Octane petrol by Rs. 5 per litre and Lanka Auto Diesel by Rs. 5 per litre from midnight yesterday (21).

Accordingly, the new price of a litre of 92 Octane petrol of Lanka IOC Company is Rs. 162 and the new price of a litre of Lanka Auto Diesel is Rs. 116.

However, they have not revised the price of a litre of Lanka Super Diesel and Octane 95 petrol.