Petrol and Diesel vs. fuel price formula in July (2024)

Abstract

Following the monthly fuel price revision for July, the market price of 92-octane petrol is LKR 16.67 above the fuel price formula, and the market price of Auto diesel is LKR 21.68 above the fuel price formula, as shown by the Fuel Price Tracker. For Auto diesel, the formula price, which changes in line with world market price changes, was reduced by LKR 5 in July compared to June, whilst the domestic market price remained the same at LKR 317 per litre. The formula price for 92-octane petrol decreased by LKR 3 in July compared to June, whilst the market price fell by LKR 11 during the same period to LKR 344 per litre. Additionally, the government also charges LKR 134 in taxes on 92-octane petrol and LKR 99 on diesel. With the exception of these taxes, the cost of selling a litre of 92-octane petrol is LKR 194 and LKR 196 for Auto diesel.