CPC Raises Fuel Prices

Ceylon Petroleum Cooperation has raised the prices of Petrol and Diesel effective from midnight today. According to CPC octane 90 petrol has raised by Rs 30 per liter, octane 95 petrol by Rs 40 per liter, Diesel by Rs 30 and Super Diesel by Rs 40.
However Mr Fowzie stated that CPC will not immediately raise fuel prices in response to Lanka IOC price hike. Fuel prices are rocketing up in response to huge demand from emerging economies like China, Depression of US Dollar and obstructions to oil production in Nigeria. Many countries like Malaysia has already raised fuel prices despite of protest from public.