Sri Lanka Raises Fuel Prices As Global Crude Price Rides Rollercoaster

COLOMBO, March 10 (Bernama-Xinhua) -- Sri Lanka increased retail fuel prices from midnight on Monday, citing volatile global crude oil prices driven by the ongoing conflict in West Asia, the state-run Ceylon Petroleum Corporation said, reported Xinhua.

Under the revision, the price of Auto Diesel increased by 22 rupees to 303 rupees (about US$0.97) per litre, while Super Diesel rose by 24 rupees to 353 rupees (US$1.13) per litre.

Petrol 92 Octane was increased by 24 rupees to 317 rupees (US$1.01) per litre, and Petrol 95 Octane by 25 rupees to 365 rupees (US$1.16) per litre.

13 rupees also raised the price of kerosene to 195 rupees (US$0.62) per litre.

The corporation said orders have been placed to meet national fuel requirements through August, in addition to long-term tenders arranged by the government.

Mayura Neththikumarage, managing director of Ceylon Petroleum Corporation, said on Sunday that the country had sufficient stocks of fuel to last until the end of April under prevailing consumption patterns.

--BERNAMA-XINHUA