Finance Minister Mangala Samaraweera revealed the oil pricing formula at a press briefing held today.
The break down of the formula is as follows :
The price of oil, acording to the minister, is obtained by a formula V i + Vii + V iii + V iv
V i = Cost incurred in Singaporean Platt's price when purchasing a barrel of oil and the exchange rate of the rupee
V ii = Production cost
V iii = Adminsitrative expenses
V iv = Cost incurred as taxes
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The price of Lanka Petrol 92 Octane has been reduced by Rs. 5, while the price of Lanka Super Diesel Star Euro 4 has been increased by Rs. 5, from midnight today, October 31, 2025, according to the Ceylon Petroleum Corporation.
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