LIOC still wants increase

15 July 2011 06:12 pm Views - {{hitsCtrl.values.hits}} 8 Bookmark

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In the midst of the existing CPC petroleum crisis Lanka Indian Oil Company (LIOC) today said that it is in urgent need of a fuel price hike and was still waiting for a positive response from the Government to increase its prices.

LIOC Managing Director, Suresh Kumar said that the was in urgent need of increasing its petrol and diesel prices. He said the prevailing quality issue in substandard petrol imported by the Ceylon Petroleum Corporation will have no impact on LIOC’s intentions to increase its fuel prices.

“The prevailing problem is a quality issue and should not have any impact on LIOC’s intention to increase petrol and diesel prices,” Kumar said. LIOC hopes to increase the price of petrol by Rs.25 and diesel by Rs.3 owing to large losses incurred by the company, he said.

He said the government is doing what it can at this time to resolve the petroleum crisis and is positive that the government will address LIOC’s request to increase its prices. (Olindhi Jayasundere)

Comments - 8

Bumba Friday, 15 July 2011 06:59 PM

Is this a indirect way to cover the loss due the hedging ruling?

1 8

christo Saturday, 16 July 2011 04:23 AM

Mage Ammo! The people who drive cars have to compensate the diesel guzzling private bus murderers. The car owners these days are also not super rich. We are also middle class office workers. To increase petrol by 25 SLR and Diesel by only 3 SLR is unfair. Since the cost of producing petrol is similiar to the cost of producing Diesel.

0 16

Kolitha Fernando Saturday, 16 July 2011 05:13 AM

What?Are they crazy...
People all over the world demanding to reduce the cost of living...

0 10

Minister Saturday, 16 July 2011 06:36 AM

Fishing in troubled water. Thats what they always did!

1 9

ramesh Saturday, 16 July 2011 09:35 AM

even we pluk money cannot stand

1 5

kenny_fdo Saturday, 16 July 2011 10:21 AM

Well there are more bus users than car owners. so don't think its fair to ask to increase disel just because petrol is going up at a higher rate.

0 2

anguthera Saturday, 16 July 2011 02:27 PM

Natinalise this indian oil company. Don't agrre for price hike atleast till election finish.

1 1

Dee Sunday, 17 July 2011 01:51 AM

Simple, IOC should stop marketing deisel

0 0

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