Petrol and Diesel Market Prices vs. Formula Price in October

Abstract

Following the monthly fuel price revision for October, the market price of 92-octane petrol is LKR 10 above the fuel price formula, and the market price of Auto diesel is LKR 22 above the fuel price formula, as shown by the Fuel Price Tracker. For 92-octane petrol, the formula price, which changes in line with world market price changes, was reduced by LKR 15 in October compared to last month, and the domestic market price fell by LKR 21 to LKR 311 per litre. For Auto diesel, the formula price reduced by LKR 18 in October compared to September, and the domestic market price fell by LKR 24 at LKR 283 per litre. The formula price for 92-octane petrol decreased by LKR 15 in October compared to September, whilst the market price fell by LKR 21 during the same period to LKR 311 per litre. Additionally, the government also charges LKR 130 in taxes on 92-octane petrol and LKR 94 on diesel in October. With the exception of these taxes, the cost of selling a litre of 92-octane petrol is LKR 171 and LKR 167 for Auto diesel.