Sinopec, the Beijing-based international petroleum company, has announced its retail fuel prices after commencing operations in Sri Lanka.
The price of 92 Octane Petrol is set at Rs. 358 per liter, while 95 Octane Petrol is priced at Rs. 414 per liter. Auto Diesel and Super Diesel are priced at Rs. 338 and Rs. 356 per liter, respectively. Kerosene is priced at Rs. 231 per liter.
Sinopec Fuel Oil Lanka, the local subsidiary of the Chinese petroleum giant, has introduced a promotional campaign by offering a discount of Rs. 3.00 per liter on fuel prices.
On the other hand, the Ceylon Petroleum Corporation (CEYPETCO) and the Lanka Indian Oil Corporation (LIOC) have raised their fuel prices as of midnight on August 31. The revised prices by CEYPETCO and Lanka IOC are as follows: 92 Octane Petrol - Rs. 361 per liter (increased by Rs. 13), 95 Octane Petrol - Rs. 417 per liter (increased by Rs. 42), Auto Diesel - Rs. 341 per liter (increased by Rs. 35), Super Diesel - Rs. 359 per liter (increased by Rs. 1), and Kerosene - Rs. 231 per liter (increased by Rs. 5).
These changes in fuel prices have significant implications for consumers and the overall market. It remains to be seen how these adjustments will impact the fuel industry and the economy in the coming days.
