With the dawn of the new year 2024, fuel prices have been increased due to the increase in VAT. According to the Ceylon Petroleum Corporation, a liter of octane 92 petrol has increased by 20 rupees and the new price is 366 Rupees. The new price of a liter of Octane 95 petrol is 464 Rupees.
The price of a liter of diesel has been increased by 29 rupees to 358 rupees, despite the Minister of Power and Energy Kanchana Wijesekera hinting about not charging VAT on diesel. A liter of super diesel has been increased to Rs 475 and only kerosene has been reduced by Rs 11 to Rs 236.
Although the 18 percent VAT is also included in the fuel price, it was stated that due to the removal of several taxes including the port and airport tax, there will be an overall tax increase of about 10 percent.