The retail prices of fuel have been revised with effect from last night (10) based on the fuel pricing formula introduced by the government in 2018, the Finance Ministry said in a statement.  

Accordingly, a litre of 92 Octane petrol has been increased by Rs.3 per litter to Rs.138, while the Lanka Indian Oil Corporation (LIOC) increased it by Rs.7.

However, prices of three other fuels remain unchanged. The ministry added.

State-run Ceylon Petroleum Corporation was selling 95 Octane petrol for Rs.164 a litre, last month, whilst Super Diesel was increased by Rs.2 to 136 rupees a litre and Auto Diesel was left unchanged.

Although international oil prices had risen since March, the government held local administered prices last month to provide relief to consumers during the traditional New Year period, the statement noted.

Hence, there were indications  international oil prices were weakening, in which case the lower prices would be passed on to consumers in the future if this situation persists , the statement  further noted.