Sri Lanka’s state-run Ceylon Petroleum Corporation (CPC) on Sunday reduced the diesel and petrol retail prices, the first decrease after five hikes since February as the severe foreign exchange shortage hampered the import of fuel and other essentials in the country reeling under worst economic crisis in decades.
The new prices will be effective from 10.00 pm on Sunday.
The diesel and petrol retail prices have been reduced by Rs 20 each. Both had been raised by Rs 50 and 60 at the end of May.
The Indian Oil Company’s local operation, the Lankan Indian Oil Company (LIOC), also said that they would effect the price reduction.
