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IOC+requests+for+petrol+price+hike.
Tuesday, 03 April 2012 - 7:32
IOC requests for petrol price hike.
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Lanka IOC has requested the government to approve increase in the price of petrol by 15 rupees.

Managing Director of Lanka IOC Suresh Kumar stated that the price increase is required as a result of the devaluation of the rupee in comparison to the US dollar.

He added that the request is also being made to minimize losses incurred due to the increase in crude oil prices in the world market.

We spoke to Minister of Petroleum Industries Susil Premajayantha who stated that the Lanka IOC can raise the prices if they want to.

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