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Message: <blockquote data-quote="lkdood" data-source="post: 12148879" data-attributes="member: 92282">The Sri Lankan government says that oil  imports from Iran have been stopped and that purchases are being made  from alternative sources. Petroleum Minister Susil Premajayantha has told parliament that Sri  Lanka has commenced purchasing Arabian Light Oil instead of Iranian  Light Oil. He has said that Sri Lanka could no longer purchase oil from Iran due to the oil embargo placed on that country. According to Premajayantha, the government did not have any other  alternative but to increase local fuel prices and the fuel prices would  be reduced once the global oil prices started to decline.   On Wednesday Arabian Light oil rose 0.4% to trade at US$ 121.19 a barrel. The Minister has explained that the losses incurred by the sale of  fuel in the local market were very high until the recent price revision.   The government had incurred a Rs. 48 loss from the sale of a liter  of furnace oil, Rs. 30 from a liter of kerosene and Rs. 26 from a liter  of diesel. CP</blockquote>

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