Fuel prices hit every Sri Lankan household, and one rumour is enough to send people racing to the pumps. The Ceylon Petroleum Corporation (CPC) raised the prices of all fuels except kerosene from midnight on November 1, 2026. For several days before that, a post had been doing the rounds claiming that “at 12 midnight on October 31” a liter of petrol would shoot up to Rs. 610.
We checked whether the prices in that post matched the actual revision, and how fuel prices have moved this year. First, the posts.
Social Media Posts:
The posts listed “new fuel prices from 12 midnight on October 31” as Rs. 610 for Octane 92, Rs. 720 for Octane 95 and Rs. 600 for Auto Diesel. They also showed people with cans queuing near a fuel station while a line of vehicles marked “NPP” drove past.
Here are some of the posts shared on that theme.
Facebook 1 | Facebook 2 | Facebook 3 | Facebook 4 | Facebook 5
Claim Under Investigation:
That the Ceylon Petroleum Corporation raised Octane 92 petrol to Rs. 610 a liter, Octane 95 to Rs. 720 and Auto Diesel to Rs. 600 from midnight on October 31, 2026.
Fact Check:
No Price Revision Took Place at Midnight on October 31
The monthly fuel price revision did not take effect at midnight on October 31. It was announced on the night of November 1 and took effect from midnight that day, as mainstream media reported here and here.
The CPC’s Official Notice Shows Prices Rose by Only Rs. 5 to Rs. 15
The CPC’s media release, titled “CEYPETCO Fuel Retail Price Revision – 2026.11.01”, was published through news media (here). It states that the new retail prices take effect from 12 midnight on November 1, 2026.
By the morning of November 2, the price list on the Corporation’s website had been updated as shown below.
According to the notice, Lanka White Diesel (Auto Diesel) rose by Rs. 5 to Rs. 397, Super Diesel by Rs. 15 to Rs. 543, Octane 95 petrol by Rs. 15 to Rs. 490 and Octane 92 petrol by Rs. 10 to Rs. 424. Kerosene stayed unchanged at Rs. 285. The figures listed as the “previous price” in the notice match those reported as the prices after the September 30 revision.
| Fuel type | CPC price until Oct. 31 | “New price” in the post | Actual CPC price from Nov. 1 | Actual increase | Amount above the actual price* |
|---|---|---|---|---|---|
| Octane 92 petrol | Rs. 414 | Rs. 610 | Rs. 424 | + Rs. 10 | Rs. 186 |
| Octane 95 petrol | Rs. 475 | Rs. 720 | Rs. 490 | + Rs. 15 | Rs. 230 |
| Auto Diesel | Rs. 392 | Rs. 600 | Rs. 397 | + Rs. 5 | Rs. 203 |
| Super Diesel | Rs. 528 | Not mentioned | Rs. 543 | + Rs. 15 | – |
| Kerosene | Rs. 285 | Not mentioned | Rs. 285 | No change | – |
* Our calculation: the price in the post minus the actual CPC price from November 1.
So, the prices in the posts were Rs. 186 to Rs. 230 higher than the actual new prices. For Octane 92, the post implied a jump of Rs. 196 a liter, roughly 47 percent. The real increase was Rs. 10, or 2.4 percent.
Lanka IOC and Sinopec Raised Octane 95 Above the CPC Price in October
Some media reported that in the October 1 revision, Lanka IOC matched its prices to the CPC’s. From midnight on October 25, however, Lanka IOC reportedly raised Octane 95 petrol from Rs. 475 to Rs. 495 a liter, and Sinopec set the same price. The CPC price at the time was Rs. 475.
As of the morning of November 2, we found no report of either company announcing new prices after the CPC’s November 1 revision, and no post on their official Facebook pages (Lanka IOC, Sinopec). We will update this article with their official notices.
Fuel Prices Have Risen Sharply Since Late February
The prices in the post are false, but fuel has become much more expensive this year. Before the Middle East war began on February 28, Octane 92 cost Rs. 292 a liter and Auto Diesel Rs. 277, as shown in our March analysis here. By November 1, those prices stood at Rs. 424 and Rs. 397, increases of about 45 percent and 43 percent.
Prices have not gone up every month. Small cuts were reported on June 29 for Octane 92 and Auto Diesel, and on August 30 for Octane 92 and 95 (here). Prices then climbed again in the September 30 and November 1 revisions.
Energy Minister Anura Karunathilaka said the Cabinet had approved Rs. 41 billion for a diesel subsidy of Rs. 70 a liter for three months, from October to December. He noted that distributors had reported losses of Rs. 120 to Rs. 247 a liter and that the subsidy would not fully cover those losses.
Government and Opposition Differ on the Price Increases
While granting the diesel subsidy, Cabinet Spokesman Minister Nalinda Jayatissa said relief had been given without placing the full burden on the public, despite the International Monetary Fund’s (IMF) cost-recovery guidance.
Opposition Leader Sajith Premadasa said on June 17 that domestic prices should come down when world oil prices fall, that fuel carried heavy taxes, and that earlier promises to cut fuel prices had not been kept.
Social media reactions are split too. On a post sharing the official price notice, some users mocked the government while another pointed out that the Middle East crisis had pushed prices up in many countries (here). A commenter on one of the fake-price posts also blamed the global crisis (here).
We have fact-checked false fuel claims before: a fake price revision post in May (here), an old price list shared as new in September (here), reports that Sri Lanka bought crude oil at USD 286 a barrel (here), and fake statements about the fuel crisis (here).
World Oil Prices Remain High as Neighboring Countries Raise Prices
On November 2, Brent crude traded at around USD 110 a barrel. That was slightly below its October 23 peak of USD 116.72, but still more than 70 percent higher than a year earlier (here). The source points to the conflict involving Iran and disruption to shipping in the Strait of Hormuz, while the OPEC+ group has agreed to keep its production targets unchanged until December.
In India, state oil companies raised petrol and diesel prices by INR 3 a liter on May 15, 2026, the first hike since April 2022, and by another 90 paise on May 19 (here). The government and the companies absorbed part of the cost to limit the burden on consumers.
Because of volatile world oil prices, Pakistan switched from weekly to daily fuel price reviews and raised diesel by PKR 2.29 a liter on October 31 (here). Bangladesh raised the price of octane, petrol, and kerosene by Tk 5 a liter from June 1 (here).
Official Price Revisions Come Through the CPC’s Notices
Sri Lanka revises fuel prices every month under a pricing formula that takes into account world oil prices, the exchange rate, costs, and taxes, as explained in our March analysis (here). With world prices still high and the diesel subsidy due to end in December, prices may change again. However, there has been no official word on how much.
Posts like this can cause panic and queues at fuel stations. In May, the then CPC Managing Director said fake price reports had led to queues (here).
When prices are revised, the CPC issues a media release, and this month’s release can be seen here. The CPC’s price list is on its website here.
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Conclusion:
Posts claiming that Octane 92 rose to Rs. 610, Octane 95 to Rs. 720 and Auto Diesel to Rs. 600 from midnight on October 31 are false. No revision took place that day. According to the CPC’s official media release, prices rose the following day, from midnight on November 1, and only by Rs. 5 to Rs. 15. Octane 92 now costs Rs. 424, Octane 95 Rs. 490 and Auto Diesel Rs. 397, while kerosene is unchanged.
Even so, fuel prices have risen by more than 40 percent since late February, and world oil prices remain high.
