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  • Nothing to panic as we can see how much profit LIOC would have amassed going by below Relief for common man! Government reduces fuel prices
    ------------------------------------------------------------------------------------------------------- Relief for common man! Government reduces fuel prices

    The Ministry of Finance announced that fuel prices had been reduced with effect from midnight yesterday.

    Accordingly, the price of a litre of Petrol (Octane 92) has been reduced by Rs.2 and the revised price will be Rs.136.The price of a litre of Petrol (Octane 95) has been reduced by Rs.5 and will be sold at Rs.159. A litre of Super Diesel is reduced by Rs.5 and the new price will be Rs.131.

    However, the price of auto diesel and Lanka Kerosene remain unchanged.

    Issuing a statement yesterday in this regard the Finance Ministry said the fuel prices in the world market have declined and hence the government had taken measures to pass on the benefit to the local consumer.

    When revising fuel prices in June, Finance Minister Mangala Samaraweera stated if the declining trend in the fuel prices in the world market continues measures will be taken to provide the consumer with this advantage.

    “At the time of the last fuel revision in June the price of a crude oil barrel was US $74 and this has come down to US $65 now,” the statement added.

    “Although the fuel prices went up and down several times since the pricing formula came into effect, the prices of fuel still remain lower than prices observed when the present government came to power.”

    "The price of a litre of Petrol (Octane 92) was Rs.150 on January 01, 2015 and today it is been sold for Rs.136. The price of a litre of auto diesel which was sold for Rs.111 at the time is now sold for Rs.104,” the statement further noted.

    However, even though it has been mentioned in the statement that in June the price of a crude oil barrel was US $74, but as of June 10, 2019 a barrel of crude oil was sold at US $ 63.37. The last time the price of a crude oil barrel exceeded the US $ 74 was on April 22.

    Comment


    • Pull back in LIOC giving good opp for traders to enter. I am sure journey will resume soon as some panicking over 1-2 rs cut

      Comment


      • Yes. I don't see the logic in selling for such a marginal reduction.

        We may see very good results for Q/E 30 06 19.

        In addition there could be a Dividend :) .....

        Comment


        • between 17.50 to 17 good levels ......
          "The best values today are often found in the stocks that were once hot and have since gone cold"

          Comment


          • I think its a not bad idea to collect slowly if the price weakens further.

            Comment


            • Originally posted by SHARK View Post
              between 17.50 to 17 good levels ......
              Let's wait for a fill-up.

              Comment


              • News regarding LIOC not looking good ne
                What is that Petrol-Kerosene mixing scene
                BE A FRIEND OF A TREND AT BEGINING

                Comment


                • Mixing happens at retail / distribution level. Some system needs to be put into place to control this.

                  Nothing to do with LIOC, in my view.

                  Comment


                  • CPC shed owners do that in a bigger scale than reported by lioc, and we have seen in the past many instances.
                    "The best values today are often found in the stocks that were once hot and have since gone cold"

                    Comment


                    • Waiting for the second fill on about 16. May be a bit difficult given there is no big selling

                      Comment


                      • 17-17.50 levels not bad.
                        "The best values today are often found in the stocks that were once hot and have since gone cold"

                        Comment

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