Sri Lanka has raised fuel prices across all major categories, with the new rates taking effect from midnight last night.

The move comes days after the International Monetary Fund approved the release of about 695 million US dollars under the island nation’s ongoing reform programme.

State-owned Ceylon Petroleum Corporation increased the price of 92-octane petrol by 24 Sri Lankan rupees to 434 rupees per litre and 95-octane petrol by 25 rupees to 495 rupees per litre.

Auto diesel rose by 15 rupees to 407 rupees per litre, while super diesel increased by 20 rupees to 478 rupees per litre. Kerosene prices were also raised by 20 rupees to 285 rupees per litre.

Fuel retailers Lanka IOC and Sinopec Energy Lanka subsequently revised their prices in line with the increase.

The price revision follows the IMF’s latest programme review and reflects Sri Lanka’s continued efforts to maintain cost-reflective energy pricing, a key component of the economic reforms undertaken as the country recovers from its 2022 financial crisis.