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Revision of petrol and diesel prices

The retail selling prices of diesel had been increased by Rs. 6 per litre and diesel and petrol sold through retail outlets within Colombo Municipal limits are levied with a premium of Rs. 2 per litre with effect from midnight yesterday, the Ceylon Petroleum Corporation said in a release yesterday.

Kerosene price has not been increased. The premium had been levied only for the products sold through Colombo Municipal limit outlets.

The petrol and diesel sold through outlets outside Colombo Municipal limits are Rs. 2 per litre lower than Colombo prices.

The international petroleum prices which reached the highest during the past few months continued to maintain the upward trend at present. The Ceylon Petroleum Corporation as an importer of petroleum products had to match the international prices. Even though diesel prices had been increased by Rs. 6 per litre to Rs. 42 per litre, the current import cost price averages around Rs. 50 per litre. The Ceylon Petroleum Corporation had incurred a loss of approximately Rs. 8.7 billion due to non-revision of fuel prices since last February in accordance with the monthly price adjustment formulae related to the international prices.

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