ECONOMYNEXT – There will be no price revisions for fuel in August, an official from Sri Lanka’s Ministry of Power & Energy said.
Fuel price revisions were scheduled to take place on the 1st and 15th of each month and Sri Lankans islandwide were anticipating a fuel price revision on Monday August 15.
Due to the falling fuel and crude prices globally, Sri Lankan motorists anticipated a decrease in prices for August.
“Fuel price revisions will take place again on September 01,” the ministry official said on Tuesday August 16.
Fuel prices were at an all-time high during the peak of the war between Russia and Ukraine when oil prices were over 200 US dollars a barrel.
Last week it was the first time since March that the US issued fuel at less than 4 dollars a barrel, The New York Times reported.
Brent Crude Oil as of Tuesday is retailing at 94.39 dollars a barrel and West Texas Intermediate at 88.78 dollars a barrel.
The last price revisions made for Petrol 92, 95 Octane and Lanka Super Diesel 4 Star Euro 4 were on July 17. Lanka Auto Diesel was decreased by 10 rupees on August 01.
Presently the prices of fuel in Sri Lanka are as follows:
- Petrol Octane 92 is 450 rupees a litre.
- Petrol Octane 95 is 540 rupees a litre.
- Super Diesel is priced at 510 rupees per litre
- Auto Diesel is priced at 430 rupees a litre