Lanka Indian Oil Company (LIOC) has reduced its Octane 92 petrol by Rs. 5 per litre with effect from midnight today. LIOC earlier this week revised the price of a litre of Octane 92 petrol by increasing it by Rs. 5 per litre to Rs. 142. However, LIOC’s diesel price was on par with the CPC. LIOC said the decision was taken as the government had increased customs duty and other taxes. Following its decision to increase fuel prices, the ruling Sri Lanka Podujana Peramuna (SLPP) called for a boycott of LIOC fuel stations.