Price increase observed in crude oil imported by CPC in February

Price increase observed in crude oil imported by CPC in February

Price increase observed in crude oil imported by CPC in February

Written by Staff Writer

19 Apr, 2015 | 10:29 pm

The price of crude oil imported by the Ceylon Petroleum Corporation has increased in the month of February.

A barrel of crude oil which was imported at 55 dollars and 47 cents in January had increased to 69 dollars and 52 cents in February.

According to the Central Bank of Sri Lanka as the prices of crude oil was reduced in the World Market, crude oil imported by CEYPETCO has also reduced since last September.

A barrel of crude oil imported for almost 111 dollars and 21 cents in August last year, has since reduced to 55 dollars and 47 cents in January, a reduction of 55 dollars and 74 cents.

Ceypetco, taking advantage of the situation, reduced the prices of petrol by 33 rupees, diesel by 16 rupees, kerosene by 16 rupees and several other fuel prices on the 22nd of January.

However , CBSL reports that Ceypetco sold a barrel of crude oil in February after adding 14 dollars and 5 cents to it’s imported price as there was a possibility of a crude oil price increase in the World Market during the last few weeks.

Today, the price of a barrel of crude oil, which was sold at 47 dollars in the World Market in January, has increased to almost 60 dollars per barrel.

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