Auto News
Fuel prices will not be reduced
The price of fuel in the local market will not be reduced even though
the world market price of a barrel of crude oil has decreased by about
US$20 during the past few months, the Petroleum Industries Ministry
announced
The import price of a barrel of crude oil which was imported at
US$111.50 in May had decreased to US$90.70 by June 23. But Petroleum
Ministry Secretary Titus Jayewardene said the benefit of decreasing
prices could not be passed down to consumers as the Ceylon Petroleum
Corporation was continuing to incur losses in the sale of fuel.
“We incur a loss of Rs.33 on a litre of diesel and Rs.3 on a litre of
petrol,” Mr. Jayawardena said adding that the CPC loses Rs.31 on the
sale of a litre of kerosene and a reduction in prices will only worsen
the crisis at the corporation.
“Fuel prices will not be increased despite rumors to that effect,” he said.
Sourse: http://www.dailymirror.lk/news/12206-fuel-prices-will-not-be-reduced.html
Posted on Saturday, July 02, 2011 @ 02:58:27 LKT
>> Back to News
