Lanka IOC has revised prices of its auto fuels from midnight yesterday following a review of auto fuels by the government.
Lanka IOC has reduced the prices of ‘Lanka Auto Diesel (LAD)’ by Rs.11 per litre to Rs.118 and Lanka Petrol 92 (LP 92) by Rs.2 per litre to Rs 153 per litre. Lanka IOC said the reduction in Diesel is in keeping with the interests of the public and channel partners in mind.
“However, the company is still incurring losses on sale of petrol and diesel. Although, international oil prices came down during the current month but due to substantial depreciation of Sri Lankan rupee, there is no significant reduction in cost of petrol and diesel,” their statement said.