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Friday Nov 08, 2024
Tuesday, 2 January 2024 01:43 - - {{hitsCtrl.values.hits}}
In a synchronised move, all three key players in the fuel industry and the two domestic LP gas players raised prices amid the new Value Added Tax (VAT) regime came into force impacting all economic sectors.
Yesterday’s adjustments saw the Ceylon Petroleum Corporation (CEYPETCO), Lanka IOC aligning their rates whilst Sinopec opted for a slightly lower increase, keeping its Petrol Octane 92 and Auto Diesel prices Rs. 3 less than the other two competitors.
Accordingly, Petrol Octane 92 was increased by Rs. 20 to Rs. 366 per litre, while Petrol Octane 95 was increased by Rs. 38 to Rs. 464 per litre. Auto Diesel was increased by Rs. 29 to Rs. 358 and Super Diesel by Rs. 41 to Rs. 475.
Sinopec, maintaining a marginally lower pricing strategy, announced that Petrol Octane 92 was increased by Rs. 17 to Rs. 363 per litre. Petrol Octane 95 was increased by Rs. 38 to Rs. 464 per litre, Auto Diesel was increased by Rs. 26 to Rs. 355 per litre and Super Diesel was increased by Rs. 41 to Rs. 475 per litre.
Despite the general upward trend, the price of Kerosene experienced a reduction. It is now available at Rs. 236 per litre, reflecting a decrease of Rs. 11 by all three players.
The increases, though anticipated, pose challenges for consumers and industries grappling with rising cost-of-living and operational costs. The reduction in Kerosene prices may provide some relief to households and the fisheries industry relying on it.
Litro Gas Lanka Chairman Muditha Peiris announced that it also raised domestic gas prices yesterday, noting that an upward price revision was necessary to ensure the sustainability and efficiency of its operations.
Accordingly, the price of the 12.5 kg was increased by Rs. 685 to Rs. 4,250, while the 5 kg cylinder was increased by Rs. 276 to Rs. 1,707 and the price of the 2.3 kg canister was hiked by Rs. 127 to Rs. 795.
In response to the VAT impact, LAUGFS Gas too said it has adjusted prices. As per the new price hikes; the 12.5kg gas cylinder was increased by Rs. 755 to Rs. 4740 and the 5kg canister was increased by Rs. 305 to Rs. 1,900.
