Lanka IOC reduces Petrol 92 price by Rs.5

22 May 2020 08:53 pm Views - {{hitsCtrl.values.hits}} 6 Bookmark

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The Lanka IOC has decided to restore the Prices of Petrol 92 at par with CPC petrol sheds by reducing Rs.5 per Litre with effect from midnight today.

In a statement, a spokesperson for LIOC said, "As part of our commitment to stand in solidarity with our valued customers, the citizens of Sri Lanka in these challenging and unprecedented times of COVID-19 pandemic, wherein best efforts are in place to ensure early revival of economy, we have decided to absorb the losses on sale of petrol due to increased import duties. The Oil market crash in March 2020 has led to the dismal performance during the January-March 2020 Quarter resulting in a loss of Rs.346 million to the Company ”

"While price of diesel is already the same as per CPC sheds, the price of Petrol 92 would also be the same at Lanka IOC sheds from midnight today at Rs.137 per litre.

Lanka IOC reiterates its commitment to remain a strong partner in serving Sri Lanka in the fulfillment of the country’s energy needs at affordable price," the statement said.

Comments - 6

Sambo Saturday, 23 May 2020 08:31 AM

Who kicked your butt to reverse your decision.

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Raman Saturday, 23 May 2020 09:46 AM

Now it's clear why the price went up. Taxes. It's not LIOC that's making profits.

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Kingsley Wijesinhe Saturday, 23 May 2020 11:58 AM

All this virtuous talk about standing in solidarity with their valued customers is a load of BS. The reason for the cancellation of the price increase is that motorists were boycotting IOC sheds and going to CPC sheds instead.

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Mify Saturday, 23 May 2020 12:35 PM

Ai business nadda??

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Saliya Perera Saturday, 23 May 2020 12:58 PM

Probably cos Public are smart and were boycotting IOC sheds. There can be no monopoly in price when there is competition. Hurrah!

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Saman Saturday, 23 May 2020 07:32 PM

To all Sri Lankans, stop buying anything from LIOC till they come down to the original prices.

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