The Ceylon Petroleum Corporation (Ceypetco) raised petrol and diesel prices from midnight on 1 November, the company said.
Octane 92 petrol rose by Rs. 10 to Rs. 424 per litre, while Octane 95 petrol rose by Rs. 15 to Rs. 490 per litre, according to Ceypetco.
Auto Diesel went up by Rs. 5 to Rs. 397 per litre. Super Diesel, the premium diesel grade, rose by Rs. 15 to Rs. 543 per litre.
The figures imply that the previous prices were Rs. 414 for Octane 92, Rs. 475 for Octane 95, Rs. 392 for Auto Diesel and Rs. 528 for Super Diesel. That works out at increases of about 2.4 percent, 3.2 percent, 1.3 percent and 2.8 percent respectively.
The increase for Auto Diesel, the grade most commonly used by buses, lorries and other commercial vehicles, is the smallest of the four. The announcement did not say whether other fuels sold by Ceypetco, such as kerosene, were affected.
Background
Ceypetco is Sri Lanka’s state-owned petroleum corporation and its main supplier of fuel. Private distributors, including Lanka IOC, also sell fuel in the country.
Since the economic crisis of 2022, fuel prices in Sri Lanka have generally been revised at regular intervals, usually at the end of each month, rather than being held fixed for long periods. Revisions follow changes in the cost of importing fuel, including world oil prices and the exchange rate between the rupee and the US dollar.
The announcement did not give the reasons for this month’s increase or say what share of the change came from import costs.
What it means
Petrol is used mainly by cars, motorcycles and three-wheelers, so private motorists and self-employed drivers will pay more at the pump from the start of the month. Diesel powers most buses, lorries and generators, so changes in its price are closely watched by transport operators and traders.
Any change in bus fares or in the price of goods that are moved by road would depend on separate decisions by the authorities and operators, and none was announced with the fuel price revision. Motorists should check the displayed prices at filling stations, as the new rates apply to the grades listed above.
