Fuel Prices Surge Across CPC, Sinopec, and LIOC 📈

Sri Lanka has implemented a significant fuel price revision effective midnight March 21, driven by global supply constraints following the Middle East conflict. • Overall Price Hikes: Prices have increased across all major suppliers, with Super Diesel and Octane 95 petrol seeing the sharpest adjustments. Since the regional conflict began, prices for these categories have climbed by 35% and 33%, respectively. • Ceylon Petroleum Corporation (CPC) & LIOC: Octane 92 Petrol: Up by Rs. 81 to Rs. 398/litre. Octane 95 Petrol: Up by Rs. 90 to Rs. 455/litre. Lanka White Diesel: Up by Rs. 79 to Rs. 382/litre. Super Diesel: Up by Rs. 90 to Rs. 443/litre. Kerosene: Increased by Rs. 60 to Rs. 255/litre (a 40% cumulative rise). • Sinopec Adjustments: While matching CPC on Auto Diesel and Octane 92, Sinopec set higher premiums for top-tier fuels: Octane 95 Petrol: Rs. 487/litre (up Rs. 122). Super Diesel: Rs. 572/litre (up Rs. 219). • Economic Context: Unlike the 2022 crisis characterized by forex shortages, the Ministry of Energy confirms the current spike is purely due to global supply chain disruptions. However, the price levels are now approaching the peak levels seen during the 2022 subsidy removal phase.