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Wednesday 17th October 2018    
IOC Follows CPC by Increasing Fuel Prices! | Lankaviews | Views of the TruthLankaviews | Views of the Truth

IOC Follows CPC by Increasing Fuel Prices!



Soon after the government announced its fuel price increment from midnight Thursday, Indian Oil Company also announced that they had raised its fuel prices again.
Accordingly, these new fuel prices are as follows;
Lanka Petroleum (92) Rs. 137.00
Extra premium Euro3 –Rs 143.oo
Extra Piumiumium (95) Rs. 151.00
Lanka Auto Diesel is Rs 111.00
Extra mile Rs. 114 and Lanka Super Diesel Rs.119.00
The Lanka Indian Oil Company initially raised the fuel prices from midnight 23 March onwards, while declaring the company itself as a loss-making company. However, the Company again increased its fuel prices beyond the amounts of Ceylon Petroleum Corporation (CPC). Both government and the Indian company emphasise that the price increment is necessary as the rates in the world market are gone high.
It is reported that the government or the Indian company did not drop the fuel prices in the event of falling oil prices in the world market.
It is controversial that consumers never get benefit during the falling prices in the world market.




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