Sri Lanka raises ammunition prices by 11 percent

COLOMBO – Sri Lanka on Thursday aloft retail ammunition prices by up to 11 percent in a bid to account college awkward oil acceptation costs, the government said.

Higher brand gasoline was added by 15 rupees to 148 rupees (1.3 dollars) a litre while diesel, which is broadly acclimated by accessible transport, was aloft 4.11 percent to 73 rupees.

The prices will additionally administer to Indian Oil Corporation's bounded unit, Lanka IOC, which controls a third of Sri Lanka's retail ammunition market.

Crude oil prices accept added than angled from their February akin of 34 dollars a barrel.

Secretary to the petroleum admiral W. B. Ganegala said state-run Ceylon Petroleum will still accomplish a accident as the access was not acceptable to awning the abounding amount of assembly and distribution.

A net oil importer, Sri Lanka sources abundant of its petroleum articles from Iran, Saudi Arabia and Malaysia.