Lanka IOC hikes price of two premium fuels

Lanka IOC yesterday announced a Rs. 2 per litre increase in the price of two premium fuel products.

The company said the move was due to an increase in Customs (Rs. 6 per litre in diesel) and Excise Import Duty (Rs. 10 per litre in diesel) on diesel imposed by the Government in the past few months and changes in international prices.

It said the two fuel products which had had their prices increased were specialised branded fuels that addressed the needs of niche customers. Extra Premium Euro 3 will be sold at Rs. 123 per litre and Xtra Mile at Rs. 99 per litre. 

The hike comes despite LIOC in March reducing its prices between Rs. 4 and Rs. 2 per litre. In that context LIOC said the latest revision in fact means prices have been restored though not in full in the case of Extra Premium Euro3. 

LIOC said there was no change in the price of Lanka Petrol 92 (LP 92) and Lanka Auto Diesel (LAD), two of the main products being marketed by the company. There was no change in two other products, Xtrapremium 95 (XP 95) and Lanka Super Diesel (LSD).