In line with recent changes announced by Sinopec, the Ceylon Petroleum Corporation (CPC) has also decided to increase fuel prices.
This new revision, effective from midnight tonight, will have a direct impact on consumers.
One of the major changes is in the price of Lanka Petrol 92 Octane, which will now be sold at Rs. 365 per litre - an increase of Rs. 04 from its previous rate. Meanwhile, Lanka Petrol 95 Octane Euro 4 will see an additional Rs. 03 per litre, bringing its new price to Rs. 420.
In addition, Ceypetco, a subsidiary of CPC, has also adjusted the prices of diesel. Auto Diesel, a popular choice among motorists, will now cost Rs. 351 per litre - a substantial increase of Rs. 10. The price of Super Diesel, on the other hand, has witnessed a significant rise of Rs. 62, reaching a new rate of Rs. 421 per litre.
Prices for kerosene have also been adjusted, resulting in an increase of Rs. 11 per litre, pushing its revised rate to Rs. 242 per litre.
This move comes as a response to international oil price fluctuations and increasing pressure on CPC to cover rising operational costs. The decision has sparked concerns among consumers who are already grappling with the economic impact of the ongoing COVID-19 pandemic.
The CPC's decision to raise fuel prices follows a similar move by Sinopec, injecting further uncertainty into the market. It remains to be seen how these increases will be absorbed by the public and the possible repercussions on the local economy
