Lanka IOC has decided to restore the prices of petrol 92 t par with Ceylon Petroleum Corporation (CPC) petrol sheds by reducing Rs 5 per litre with midnight today, the organization said.

A LIOC Spokesman said that as part of the commitment to stand in solidarity with the customers in these challenging and unprecedented times of COVID-19 pandemic, where in best efforts are in place to ensure early revival of economy, "we have decided to absorb the losses on sale of petrol due to increased import duties,"

The company said that the oil market crash in March 2020 has led to the dismal performance during the jan-March- 2020 Quarter resulting in a loss of rs 346 million to the company.

While the price of diesel is already the same as per CPC sheds, the price of petrol 92 would als be the same at LAnka IOC sheds with midnight today at Rs 137 per litre.

© Pakistan Press International, source Asianet-Pakistan