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Sri Lanka Equity Forum » Stock Market Talk » Fuel prices might drop after Friday: Ministry

Fuel prices might drop after Friday: Ministry

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1 Fuel prices might drop after Friday: Ministry on Wed Aug 08, 2018 10:40 am

ruwan326

ruwan326
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
The scheduled fuel price revision every two months would come to effect on Friday (10) where there might be a drop in fuel prices, the Finance Ministry said.
Fuel prices are determined every two months according to the pricing formula introduced on July 10 but it had not affected kerosene prices.
Ministry’s Information Director M. Ali Hassan said when compared with the July international crude oil prices, they had dropped this month.
He said according to World Market prices a barrel of crude oil was selling at SGD73.85 in July and SGD98.09 in May while it had dropped to SGD69.05 this month.
“Therefore, there may be a drop in the prices in the wake of Friday’s fuel pricing committee meeting,” Mr Hassan said.

DS Wijesinghe


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
Fuel Price Hike Likely if US Imposes Sanctions on Iran : PM

Daily Mirror:- The impending US economic sanctions on Iran might result in another fuel price hike as it would have a negative effect on Sri Lanka, Prime Minister Ranil Wickremesinghe told Parliament today.
Prime Minister Wickremesinghe said this when a question was raised by Joint Opposition MP Bandula Gunawardane on certain scandals involving vehicle and gold imports in the House last afternoon.
“The impending US sanctions on Iran could affect Sri Lanka adversely. We don’t know whether this would result in an oil price hike as Sri Lanka currently imports Iranian crude. However, we will have to be prepared to face any adverse situation,” the Prime Minister said.
He said that the ongoing trade war between China and the USA would also affect Sri Lanka.
The Prime Minister said Sri Lanka should be prepared to face any adverse situation that may be caused by these global developments

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