Home / Front Page/ Fuel prices reduced

Fuel prices reduced


Comments / {{hitsCtrl.values.hits}} Views / Friday, 11 January 2019 00:10


 


The Government yesterday decided to reduce the petrol and diesel prices by Rs. 2 per litre. 

However, the price of Super Diesel, which is an environmental-friendly fuel, was reduced by Rs. 3 per litre as it complies with Euro-04 Emission Standard as well.

Accordingly, Octane 92 Petrol was reduced from Rs. 125 to Rs. 123, Octane 95 Petrol from Rs. 149 to Rs.147, Auto Diesel from Rs. 101 to Rs. 99, Super Diesel Rs. 121 to Rs. 118. The new prices come in to effect from midnight Thursday 10 January.

Fuel prices are reviewed every 10th day of the month under the fuel pricing mechanism by the Government. Though the prices were reduced today, the international oil prices tend to increase continuously from the second week of January onwards. 

When the oil prices were last revised upward on 10 October, the price of a barrel of crude oil was $85. It came down to $58 on October 26, and when the fuel prices were last reduced on December 21, the Crude oil price was $52.

However, since the 2nd week of January 2019, the crude oil price and the prices of refined products are reported to be on the increase. The crude oil represented by BRENT price index and the refined petroleum prices represented by Singapore’s PLATTs price are moving upward, and by 10 January it has gone up to $59.

 

Economy will be put on track: PM

Rupee appreciates as banks sell dollars; shares steady

 


Share This Article

Facebook Twitter


DISCLAIMER:

1. All comments will be moderated by the Daily FT Web Editor.

2. Comments that are abusive, obscene, incendiary, defamatory or irrelevant will not be published.

3. We may remove hyperlinks within comments.

4. Kindly use a genuine email ID and provide your name.

5. Spamming the comments section under different user names may result in being blacklisted.

COMMENTS

Today's Columnists

Research and Development: Is it essential for Sri Lanka?

Thursday, 23 January 2020

Not long ago, on the day of our 71st Independence Day celebrations, the Army for the first time in our history paraded a locally built Multi-Barrel rocket launcher. It was never revealed that the Sri Lanka Army had an R&D wing named Center for Resear


Our heritage is Kandyan law; not Roman Dutch law as Rathana Thero thinks

Thursday, 23 January 2020

There were four bills presented by private members to the Parliament on 8 January (one bill is to be presented) which were already advertised in the gazette. They were to repeal the Kandyan Marriage and Divorce Act No. 44 of 1952; to repeal the Musli


Sri Lanka at tipping point ?

Thursday, 23 January 2020

Let’s accept it, Sri Lanka is in trouble with the economy growing at +2.6%, exports declining for the fifth month in a row to register a marginal +1% growth, tourism declining by -20% and S&P credit rating at B with Negative Outlook, which sure ind


The importance of business incubators for emergence of new businesses

Thursday, 23 January 2020

The new Government is poised to enter an arena in the development of entrepreneurship in the country which most of the developed countries have succeeded at the initial stages as well as in continuous efforts. The appointment of the new chairman and


Columnists More