Sinopec to sell at Rs.3 less per liter after fuel price hike

Sinopec Fuel Oil Lanka the third player in the fuel sector to begin business operations in Sri Lanka on Thursday, announced that its retail fuel prices will be Rs. 3 less per liter than its competitors, Ceypecto and LIOC yesterday.

This is following the retail fuel price increase announced from September 1. Accordingly 92 Octane Petrol is priced at Rs.358 per liter, and the price of 95 Octane Petrol stands at Rs. 414 per liter. Auto Diesel and Super Diesel have been priced at Rs. 338 and Rs. 356 per liter, respectively. Besides, a liter of Kerosene is priced at Rs.231.

It is significant that Sinopec, a Chinese based leading international petroleum company increased their fuel prices right after the official commencement of its business operations here on August 31 with a market promotion campaign.

However Sinopec Fuel Oil Lanka, is pumping fuel with a discount of Rs.3 per liter when compared with the increased fuel prices of both CEYPETCO and LIOC. CEYPETCO and LIOC increased their fuel prices with effect from midnight on Thursday (August 31).

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