World crude oil prices dropped further on Tuesday to $87.94 per barrel against $93.52 on Monday for the Brent variety, the Central Bank said. However local retailers are unlikely to lower selling prices in Sri Lanka.
The OPEC Basket was trading $91.35 against $95.33 yesterday. Both the Ceylon Petroleum Corporation and the Lanka IOC said at the weekend they were unable to reduce prices as they were making losses on their purchases plus other costs including taxes.
In the Singapore Refined Products market, petrol was trading at $102.90, diesel at $113.95 and kerosene at $117.40.
-sundaytimes
The OPEC Basket was trading $91.35 against $95.33 yesterday. Both the Ceylon Petroleum Corporation and the Lanka IOC said at the weekend they were unable to reduce prices as they were making losses on their purchases plus other costs including taxes.
In the Singapore Refined Products market, petrol was trading at $102.90, diesel at $113.95 and kerosene at $117.40.
-sundaytimes
