Fuel prices hiked

Whitebull · 1 Fuel prices hiked Sat Feb 23, 2013 8:43 am

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The price of 90 octane Petrol, 95 octane petrol and Super Diesel has been increased by 3 Rupees per litre while the price of Auto Diesel has been hiked by Rs.6 with effect from today.
Therefore the new price of a litre of petrol (90 octane) is Rs.162, petrol (95 octane) Rs.170, Auto Diesel Rs.121 and Super Diesel Rs.145, the Ceylon Petroleum Corporation said.
The price of kerosene has been increased from Rs.111 to Rs.115, the CPC said.
http://www.adaderana.lk/news.php?nid=21730&mode=beauti

K.Haputantri · 2 Re: Fuel prices hiked Sat Feb 23, 2013 10:15 am

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?IMF plug is till intact.

The Alchemist · 3 Re: Fuel prices hiked Sat Feb 23, 2013 10:54 am

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Fuel Hike
23 Feb, 2013 10:31:42
Sri Lanka raises fuel prices
Feb 23, 2012 (LBO) - Sri Lanka's state-run Ceylon Petroleum Corporation has raised petrol by 3.0 rupees to 162 rupees a liter and auto diesel by 6.0 rupees 121.0 a litre, with super diesel being raised by 3.0 rupees to 145.0 reports said.

LankaIOC, Sri Lanka's second fuel distributor said it will also raise petrol by 3.0 rupees but would keep diesel prices at the same level. LankaIOC had earlier raised diesel by 6.0 rupees above the CPC price.
Sri Lanka last raised fuel prices in December 14, but diesel was not raised.

The Singapore price of refined, petrol and diesel products are around about 102 to 105 rupees a litre, but petrol is heavily taxed. About 27 percent of retail petrol is tax according to industry officials.

Sri Lanka's power regulator, the Public Utilities Commission of Sri Lanka has also set in motion a process to adjust power prices.

The Alchemist · 4 Re: Fuel prices hiked Sat Feb 23, 2013 1:27 pm

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The Alchemist wrote:Fuel Hike
23 Feb, 2013 10:31:42
Sri Lanka raises fuel prices
Feb 23, 2012 (LBO) - Sri Lanka's state-run Ceylon Petroleum Corporation has raised petrol by 3.0 rupees to 162 rupees a liter and auto diesel by 6.0 rupees 121.0 a litre, with super diesel being raised by 3.0 rupees to 145.0 reports said.

LankaIOC, Sri Lanka's second fuel distributor said it will also raise petrol by 3.0 rupees but would keep diesel prices at the same level. LankaIOC had earlier raised diesel by 6.0 rupees above the CPC price.
Sri Lanka last raised fuel prices in December 14, but diesel was not raised.

The Singapore price of refined, petrol and diesel products are around about 102 to 105 rupees a litre, but petrol is heavily taxed. About 27 percent of retail petrol is tax according to industry officials.

Sri Lanka's power regulator, the Public Utilities Commission of Sri Lanka has also set in motion a process to adjust power prices.

How will the above impact LIOC's Profitabilty ?

Also Refer -

http://forum.srilankaequity.com/t25991-sri-lanka-ioc-unit-net-up-16-pct#152828

Last edited by The Alchemist on Sat Feb 23, 2013 1:34 pm; edited 1 time in total

Redbulls · 5 Re: Fuel prices hiked Sat Feb 23, 2013 1:34 pm

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Wait ans see.More price hike on card.

smallville · 6 Re: Fuel prices hiked Sat Feb 23, 2013 5:52 pm

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Well of course, otherwise how can the new ministries and ministers would be funded..

Slstock · 7 Re: Fuel prices hiked Sat Feb 23, 2013 5:57 pm

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Atleast this is not a crazy sudden 40% hike like before

Finding positives in the negatives only.

worthiness · 8 Re: Fuel prices hiked Sat Feb 23, 2013 7:44 pm

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Price hike of diesel will be added cost to transportation thereby increasing the prices of most consumable items. It is really exciting to see the real impact of consumer price index after one month period not displaying double digits of inflation. CB is facing the great task of projections perhaps in collaboration with the treasury.

ccsentha

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what will be the impact of petrol price hike be on LIOC?

ccsentha

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Can we contribute in finding the selling prices of petrol and diesel of LIOC and CPC?

LIOC hasn't increased the diesel price, so now cpc and LIOC in level playing field?

or has the world fuel market has increased the price and are LIOC are taking loos by not hiking the diesel price?

Redbulls · 11 Re: Fuel prices hiked Sat Feb 23, 2013 11:44 pm

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Answer is in the link,please note you already commented on the same thread.
http://forum.srilankaequity.com/t26176-fuel-prices-hiked#153816
@moderators
Merging the topic is useful no?

ccsentha · 12 Re: Fuel prices hiked Sat Feb 23, 2013 11:49 pm

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Redbulls wrote:Answer is in the link,please note you already commented on the same thread.
http://forum.srilankaequity.com/t26176-fuel-prices-hiked#153816
@moderators
Merging the topic is useful no?

i didn't comment on that thread, i opened one just now but it went missing, may be it has been merged.

ccsentha · 13 Re: Fuel prices hiked Sat Feb 23, 2013 11:51 pm

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Guys was this an increase because of world market, or was it a case to avoid losses and make profits for CPC and LIOC?

Redbulls · 14 Re: Fuel prices hiked Sat Feb 23, 2013 11:54 pm

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ccsentha wrote:Guys was this an increase because of world market, or was it a case to avoid losses and make profits for CPC and LIOC?

Read the following link.
http://forum.srilankaequity.com/t26179-sri-lanka-cpc-loses-rs89bn-in-2012-to-break-even-next-year

smallville · 15 Re: Fuel prices hiked Sun Feb 24, 2013 10:57 am

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ccsentha wrote:Guys was this an increase because of world market, or was it a case to avoid losses and make profits for CPC and LIOC?

Most likely the latter part.

Fuel needs a "pricing formula" to be honest with. Instead its considered a commodity which could be raised if Govt. expenses go high. What the prudent decision is to cut down the CPC costs by re-structuring the firm, there's lot of inefficiencies in this company which needs to be looked at. May over-staff in one reason. Rather than finding solutions to uplift an ailing entity our guys keep on passing the ball is to the common man as its the easy way out.

If IMF is not offering loans, its cuz the govt is not utilizing the money effectively. They only take but no way of paying back.

See one of the inefficiency use of money as pointed out by marusira ..

marusira wrote:මුළු දිග = කි.මී 10.5+02+25=කි.මී 37.5
වෙන්කළ මුදල =බිලියන 3.23=කෝටී 323
කි.මී 1කට මුදල =323/37.5=කෝටි 8.613=ලක්ෂ 861.3
මීටර 1ක කොටසකට යන මුදල=861.3/1000=රු 86130.00

While I'm not an expert in road dev, I can use common sense and figure out that cost of 1Mtr doesn't exceed than 30000-50000. To who's pocket the rest goes is the question. And that's why the ministers are so fond of developing roads than other infrastructure facilities. Laughing