Petrol and Diesel Market Price vs. Formula Price in March 2025

Abstract

Since December 2024, the market prices of 92-octane petrol and auto diesel have remained at LKR 309 and LKR 286 per litre, respectively, despite fluctuations in formula prices between January 2025 and March 2025.

According to the Public Finance.lk fuel price tracker, the formula price of 92-octane petrol was LKR 298.85 in January 2025, rose to LKR 307.53 in February, and reached LKR 310.14 in March—an overall increase of LKR 11.29 per litre. As a result, where the formula price was LKR 10.15 below the market price in January, it exceeds the market price by LKR 1.14 in March. Currently, the market price falls within a 2% range of the formula price, indicating that market prices are effectively on par with the formula price (see note).

However, the market price of auto diesel, which was LKR 2.14 lower than the formula price in February, is now LKR 4.16 higher. This change is due to a reduction in the formula price from LKR 288.14 in February to LKR 281.84 in March, while the market price remained unchanged. As a result, auto diesel prices also fall within the 2% range, indicating alignment with the formula price.