Since ME Tensions Began: Fuel Shock: Up Rs 103-155 a Litre in 3 Months
- Five rapid hikes since March drive prices close to 2022 levels
- All fuel categories see Rs 100+ increase
- Octane 95 and Super Diesel each surge by Rs 155 a litre
- Kerosene records steepest percentage increase at 56.6%
Prices in all major fuel categories have risen sharply since March, with increases ranging from Rs 103 to Rs 155 per litre following five separate price revisions implemented between 1 March and 31 May. With the latest fuel price revision, which came into effect from midnight yesterday (31 May), prices have now risen to their highest levels this year. Compared with the prices that prevailed prior to 1 March, Octane 95 petrol has seen an overall increase by Rs 155 per litre, Octane 92 petrol by Rs 141, Lanka Auto Diesel by Rs 126, Lanka Super Diesel by Rs 149 and kerosene by Rs 103.The first revision came into effect on 1 March, following the eruption of Middle East tensions on 28 February. At that stage, Octane 92 petrol increased by Rs 1 per litre from Rs 292 to Rs 293. Auto diesel rose by Rs 4 from Rs 277 to Rs 281, and super diesel increased by Rs 6 from Rs 323 to Rs 329. Prices of Octane 95 petrol and kerosene remained unchanged at Rs 340 and Rs 182 respectively.
A second revision followed on 10 March. Octane 95 petrol increased by Rs 25 per litre to Rs 365, while Octane 92 petrol rose by Rs 24 to Rs 317. Auto diesel increased by Rs 22 to Rs 303, super diesel by Rs 24 to Rs 353 and kerosene by Rs 13 to Rs 195 per litre.The largest single increase during the period came on 22 March amid growing concerns over global energy supplies. Octane 95 petrol increased by Rs 90 per litre from Rs 365 to Rs 455. Octane 92 petrol rose by Rs 81 from Rs 317 to Rs 398. Auto diesel increased by Rs 79 from Rs 303 to Rs 382, super diesel by Rs 90 from Rs 353 to Rs 443 and kerosene by Rs 60 from Rs 195 to Rs 255 per litre.
Fuel prices were revised again on 3 May. Under that revision, Octane 95 petrol increased by Rs 15 per litre to Rs 470, Octane 92 petrol by Rs 12 to Rs 410, auto diesel by Rs 10 to Rs 392, super diesel by Rs 15 to Rs 458 and kerosene by Rs 10 to Rs 265.