Fuel prices in Sri Lanka hiked; govt says talks on with India for LoC

Fuel prices in Sri Lanka hiked; govt says talks on with India for LoC

The state-run Ceylon Petroleum Corporation (CPC) had urged the government for a price hike. However, the government has not allowed them to raise fuel prices since October.







PTI









December 21, 2021 / 12:26 PM IST





(Representative image)



Sri Lanka's state oil entity and the Indian Oil Corporation's local subsidiary have raised the prices of petrol and diesel amidst a severe foreign exchange crisis in the country even as the government said that negotiations are underway with India and Oman to work out credit lines for fuel purchases.

The state-run Ceylon Petroleum Corporation (CPC) had urged the government for a price hike. However, the government has not allowed them to raise fuel prices since October.

The CPC raised the price of petrol by Rs 20 and diesel by Rs 10. It is now selling petrol at Rs 177 and diesel at Rs 121 a litre. The price of Petrol 95 Octane was raised by Rs 23 to Rs 207 a litre. Petrol 95 Octane of Lanka IOC (LIOC), the subsidiary of Indian Oil Corporation in Sri Lanka, would be three rupees more expensive than that of the CPC.

Sri Lanka is currently facing a