Fact Check
The minister claims that Sri Lanka has the lowest petrol and diesel prices in the South Asian region—except for Pakistan, which has a lower diesel price.
To evaluate this claim, FactCheck.lk consulted Ceylon Petroleum Corporation (CPC), Petroleum Planning and Analysis Cell of India (PPAC), Pakistan State Oil (PSO), Bangladesh Petroleum Corporation (BPC), State Trading Organisation of Maldives (STO), State Trading Corporation of Bhutan Ltd. (STCBL), Kuensel online and Kathmandu Today Press articles, and globalpetrolprices.com database.
Prices differ by the type of petrol and diesel, and most countries provide at least two variants of petroleum-based fuel. FactCheck.lk compared prices across countries (in equivalent Sri Lankan Rupees) on the lowest priced variety that is marketed in each country.
According to the official data, at the time of the minister’s statement (i.e., 20 July 2021), the minimum price of a litre of petrol in Sri Lanka was LKR157.00. At the time or prior to when the minister made this claim, prices when converted to the LKR equivalent, were LKR 137.39 in Afghanistan, LKR 141.15 in Maldives, and LKR 147.18 in Pakistan (converted at the 7-day average exchange rate as of 19 July 2021 according to OANDA). Therefore, contrary to the minister’s claim, all these countries had petrol at lower prices than Sri Lanka.
The minimum price of automotive diesel in Sri Lanka was LKR 111.00/litre, the lowest in the region at the time of the minister’s statement.
The minister’s statement that Sri Lanka has the lowest diesel prices in South Asia is correct (and it was even lower than Pakistan). However, the minister is not correct in claiming that Sri Lanka has the lowest petrol price in the region, because the prices in Afghanistan, Maldives, and Pakistan were lower at the time he made this claim.
Therefore, we classify his statement as PARTLY TRUE.
**FactCheck.lk’s verdict is based on the most recent information that is publicly accessible. As with every fact check, if new information becomes available, FactCheck.lk will revisit the assessment.
Sources
GlobalPetrolPrices.com, Gasoline prices/ Diesel prices available at: https://www.globalpetrolprices.com/ [last accessed 6 August 2021]
Bangladesh Petroleum Corporation, Prices of Petroleum Products Table, Available at: http://www.bpc.gov.bd/ [last accessed 12 August 2021]
State Trading Corporation of Bhutan Ltd, Bhutan petroleum, Ramtokto Fuel Retail Outlet available at: https://www.stcb.bt/bhutanpetroleum.php [last accessed 6 August 2021]
Kuenselonline, Increase in prices of essentials remains unabated News article available at: https://kuenselonline.com/increase-in-prices-of-essentials-remains-unabated/ [last accessed 12 August 2021]
Petroleum Planning and Analysis Cell of India, Petroleum, Prices, RSP of Petrol and Diesel in metro cities since 16.6.2017 Table available at: https://www.ppac.gov.in/WriteReadData/userfiles/file/PP_9_a_DailyPriceMSHSD_Metro.pdf [last accessed 12 August 2021]
State Trading Organisation of Maldives, News, Announcements, Revision of fuel price available at: https://sto.mv/Media/Details/revision-of-fuel-price-ref-fr-2021 [last accessed 6 August 2021]
Kathmandu Today, Business, Petrol Diesel Price in Nepal 2021, News article available at: https://www.ktm2day.com/petrol-diesel-lpg-gas-aviation-fuel-price-in-nepal/ [last accessed 12 August 2021]
Pakistan State Oil, Product & Services, Product Prices, Petroleum Oil Lubricants (POL), Pol Archives, available at: https://psopk.com/en/product-and-services/product-prices/pol/pol-archives [last accessed 6 August 2021]
Ceylon Petroleum Corporation, Historical Prices available at: http://ceypetco.gov.lk/historical-prices/ [last accessed 6 August 2021]
OANDA, historical currency converter, available at: https://www.oanda.com/fx-for-business/historical-rates [last accessed 6 August 2021]