Petroleum Products: Sri Lanka raises prices by 7.5%

COLOMBO: Sri Lanka has raised fuel prices by up to 7.5 per cent in a bid to offset higher crude oil import costs.

Gasoline price increased by 10 Sri Lankan rupees to 143 rupees a litre, while the price of diesel, used widely by public transport, was raised by 3.5 per cent to 93 Sri Lankan rupees.

A net oil importer, Sri Lanka sources much of its petroleum products from Iran, Saudi Arabia and Malaysia and the increasing international prices forced the latest retail price hike, an official of the Petroleum Corporation said.



Published in The Express Tribune, April 03^rd, 2011.