The Lanka IOC has increased its retail selling prices for both Diesel (Lanka Auto Diesel) & Petrol (LP 92 ) by Rs. 5 per litre from tonight due to huge losses on sales of both the products.
The LIOC Manager Commercial Manjula Abeywickrama said the prices of Lanka Super Diesel and LP 95 have been kept unchanged.
The losses are around Rs. 40 per litre on sale of Diesel and Rs. 20 per litrer on sale of Petrol at the current international prices.
The last price revision took place on June 12. However, since then the Brent crude oil prices have increased from $72 to $86 per barrel in the international market.
However, even after this price increase in Diesel and Petrol, LIOC will still have to bear significant losses at prevailing international prices for which they have been requesting to Ministry of Finance and Ministry of Energy to take necessary steps to provide relief to organization, Abeywickrama said.