The China-based company wasted no time in making its presence felt by offering lower fuel prices compared to its local competitors.

As per the latest price revision of Sinopec, a litre of 92 Octane Petrol is priced at Rs. 358, 95 Octane Petrol stands at Rs. 414, Auto Diesel at Rs. 338, Super Diesel at Rs. 356 and Kerosene at Rs. 231.

“The pricing is applicable to all Sinopec franchise filling stations in Sri Lanka and valid till the next release published,” Sinopec Energy Lanka Deputy General Manager Arthur Cheng Anxiang said.

Sinopec’s supply plan is in progress, with the goal of gradually handing over all 150 filling stations to its management by October.

On 30 August Sinopec Lanka officially commenced its first franchising filling station in Mattegoda, with the first round of market promotion measures with a pump discount of Rs. 3 per litre for petrol and diesel.

Sinopec’s move to enter the Sri Lankan market with competitive prices has undoubtedly disrupted the existing fuel pricing dynamics.