Sri Lanka IOC urges government to hike fuel prices
Lanka IOC (LIOC), the subsidiary of Indian Oil Corporation in Sri Lanka on Monday urged the government to approve a retail fuel price hike due to the prevailing situation regarding global oil prices, a top company official said here.
LIOC Managing Director Manoj Gupta said they were waiting for the Sri Lankan government’s nod to hike the petrol price by Rs 20/litre and diesel by Rs 30/litre.
The Sri Lankan government has put on hold the expected retail price hike of fuel despite increasing the prices of cooking gas and other essentials last week.
