Sri Lanka’s state-run Ceylon Petroleum Corporation has raised the price of 92 octane petrol to LKR 338 per litre – an increase of LKR 84, news agency PTI said. The increased price – approximately ₹80 per litre – adds to the burden of the Sri Lankan people, who are struggling through the island nation’s worst financial crisis in living memory.
CPC’s new price now matches the per litre price of Lankan Indian oil company (LIOC). This is CPC’s second price hike in a month, while LIOC’s yesterday was the fifth in six months.
CPC officials said high global prices of oil and the depreciation of the Sri Lankan rupee against the dollar after the government’s March 7 decision to have a free float was the main cause.
