Lanka IOC reduced fuel price


Lanka IOC has reduced the prices of 'Lanka Auto Diesel (LAD)' by Rs.11 per litre to Rs.118 and Lanka Petrol 92 (LP 92) by Rs.2 per litre to Rs 153 per litre.

RAC Fuel Watch data shows there was a 3.5p per litre fall in wholesale prices yet petrol started and finished the month at 130.6p per litre.

In Mumbai, petrol was sold at Rs 84.49 while the price of diesel was Rs 77.06 a litre.

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Petrol and diesel prices were slashed again on Saturday after the price of crude oil dipped in the worldwide market. "Oil prices are beyond the control of the Indian Government". We promised to the people of this country that we will not push our country into indebtedness. Hence there is a price cut of Rs 0.19/litre and 0.12/litre in petrol and diesel respectively.

Williams also called on all retailers, including smaller independent fuel stations, as well as big supermarkets, to cut their petrol prices by 3p per litre, pointing out that a strengthening currency meant more reductions could be on their way. On that day, the government made a decision to cut excise duty on petrol and diesel by Rs 1.50 per litre each and asked state-owned fuel retailers to subsidise by another Re 1 a litre by reducing their margins.

In Mumbai, petrol had hit a peak of Rs 91.34 on October 4 and diesel was sold at a record high of Rs 80.10.