Petrol and Diesel Market Prices vs. Formula Price in November

Abstract

Following the monthly fuel price revision on 01 November 2024, the market price of 92 octane petrol and the market price of auto diesel remained unchanged. However, the cost-reflective fuel formula prices for 92 octane petrol decreased by LKR 2.02, while the formula price for auto diesel increased by LKR 1.84. For 92 octane petrol, the formula price, which changes in line with world market price changes, reduced by LKR 2.02 for the month of November, making the market price LKR 12.51 above the formula price. For auto diesel, the formula price rose by LKR 1.84 for November. The market price remained unchanged however, reducing the excess of the market price over the formula price from LKR 22.18 to LKR 20.34. Additionally, the government also charges LKR 129.26 in taxes on 92 octane petrol and LKR 94.21 on diesel in November. With the exception of these taxes, the cost of selling a litre of 92 octane petrol is LKR 169.23 and LKR 168.45 for auto diesel.