No increase in fuel prices
The Petroleum Ministry recently announced that fuel prices would not
be increased due to the price hike in Iranian crude oil.
Petroleum Ministry Secretary Dr. H.M.S. Samaratunge said the increase
in global fuel prices was not as high as that was experienced a few
months back and assured there would not be an immediate increase in
local fuel prices.
He observed that the rising tension in the Middle East and Syria
would not have a positive impact on the global fuel prices.
He has noted that an energy subcommittee is currently working on an
'energy mix' programme to be applied locally and it would be completed
within next four months.
According to Petroleum Industries Ministry sources, fuel and crude
oil prices in the World Market had increased again in the past three
The Petroleum Industries Ministry states that Iranian crude oil
imported by Sri Lanka had gone up by 10 US dollars per barrel.
However, Petroleum Industries Minister Susil Premajayantha also said
fuel prices would not be increased again as a result of this price hike.
According to ministry sources, the price of a barrel of Iranian lite
crude oil increased by US $ 10 and the prices of several petroleum
products, such as, diesel, petrol and kerosene oil increased by US $ 16
during the last three weeks.
The price of a barrel of Brent crude oil increased by US $ 9 and
simultaneously the price of a barrel of Iranian crude oil and WTI crude
oil increased by US $ 7 during the same period. Accordingly, a barrel of
Brent crude oil increased to US $ 108.58 from US $ 96.38 and the price
of a WTI crude oil barrel increased to US $ 92.66 from US$ 83.99.