State-owned Ceylon Petroleum Corporation (CPC) and the Lanka Indian Oil Corporation (LIOC) sought to provide some respite to those who must stand in daily lines that stretch for miles by lowering the price of gasoline and diesel in crisis-stricken Sri Lanka on Sunday.
According to reports from the area, Octane 92 gasoline now costs 450 Sri Lankan rupees per light, a 20 rupee decrease. Octane 95 gasoline is now offered at 540 rupees per litre, a 10 rupee decrease.
Additionally, the cost of diesel has decreased by 20 rupees per litre to 440 rupees. According to local reports, the price of super diesel has decreased by 10 rupees and is now 510 rupees per litre.
Since February, Sri Lanka has struggled to purchase essentials like food and medicine due to a crippling fuel shortage and a severe foreign exchange crisis. As a result, it has fallen behind on billions of dollars in debt payments that are due this year.Since March, Sri Lanka’s currency has lost 80% of its value.
Due to the current gasoline crisis, which remains despite India’s extended supply, many Sri Lankans are now choosing bicycles over automobiles and motorcycles.
To ensure a balanced distribution of gasoline, the nation’s power and energy ministry unveiled a new method last week; it will go into effect on Thursday.
The CPC and the LIOC have both declared their participation in the plan.
The CPC had stopped supplying fuel to private automobiles by the end of last month. After new shipments of gasoline and diesel arrive, distribution will restart.
