Sri Lanka in steep fuel price hike, corrects diesel mis-pricing
Feb 11, 2012 (LBO) - Sri Lanka has steeply raised the price of diesel partially correcting chronic mis-pricing between refined fuels in a move that could also help reduce loans taken by petroleum distributors and stabilize a weakening exchange rate.
State-run Ceylon Petroleum Corporation said a litre of 90-octane petrol would be raised by 12 rupees to 149 rupees and standard auto diesel would be raised by 31 rupees to 115 rupees partially correcting fuel mis-pricing. Lanka Indian Oil Corporation said it would follow state mandated pricing.
Kerosene would be raised by 35 rupees to 106 rupees from mid-night Saturday. Premium 95-octane petrol would go up to 167 rupees a litre.
Kerosene would be raised by 35 rupees to 106 rupees from mid-night Saturday. Premium 95-octane petrol would go up to 167 rupees a litre.
