The Sri Lankan authorities on Saturday reduce the value of petrol by Rs 40 per liter, making diesel dearer than petrol for the primary time within the nation.
The fall in costs got here after opposition events in current days slammed the federal government for not implementing the value components regardless of low world oil costs.
The retail value of petrol has been lowered from LKR 450 per liter to LKR 410 per liter whereas the value of diesel stays the identical at LKR 430.
Energy Minister Kanchana Wijesekara stated, “The new petrol prices will be Rs 410 Sri Lankan rupees.”
With this transfer, for the primary time in Sri Lanka the value of diesel is increased than the value of petrol.
Diesel is extensively used for public transport and automobiles used for client commerce have a direct impression on the price of residing.
After this choice of the federal government, Lanka Indian Oil Corporation has additionally stated that it’s going to cut back the value of petrol together with the federal government value.
Sri Lanka is going through hyperinflation amid the worst financial disaster since its independence in 1948.
Inflation in September rose to 69.8 per cent from 64.3 per cent recorded in August.
With inputs from TheIndianEXPRESS
