Government increases fuel prices

The Petroleum Corporation says  the prices of fuel in the world market has soared up by hundred percent during the last year.

By February 2007 a barrel pf crude oil was at 50 dollars and it increased up hundred dollars by November.  The corporation added that such a rapid increase of fuel prices cannot be tolerated to a non-fuel producing country like Sri Lanka. In an communiqué issued by the Corporation stated though the prices in the world market had increased by 100 percent it was not increased relatively in the local market.

The corporation had paid special attention towards the cost of living and economic of the country  when revising the prices. According to the communiqué, corporation has maintained the fuel prices unchanged during  past five months.  The corporation says it has now increased the fuel prices to face the price hike in the world market.  Accordingly, price of petrol has increased by 10 rupees a liter placing it at 127 rupees. 

The new prices of a auto diesel liter is at 80 rupees.  A liter of kerosene oil has increased by two rupees and the new prices is 70 rupees.  A liter furnace oil has increased up to  56 rupees and 65 cents.