Apr 02, Colombo: The Sri Lankan subsidiary of Indian Oil Company (LIOC) has also announced its decision to increase fuel prices with immediate effect.
LIOC is to increase a liter of petrol by Rs. 10 and diesel by Rs. 12.
The announcement by LIOC, the second player in Sri Lanka’s petroleum market, follows the decision of the Ceylon Petroleum Corporation (CPC) to increase the price of fuel from today.
LIOC has been requesting for a revision of local fuel prices for the past few months in response to the escalation of global fuel prices.