OIL PRICE HIKE

Petrol by Rs 20/-, Diesel by Rs 13/- Kerosene oil by Rs 13/- predicted to be increased:
In relation to the increase in the oil prices in the World market our petrol, diesel and kerosene prices are too to be increased accordingly, according to unconfirmed reports.
Although the Minister had disclosed that there would not be a hike in the oil prices it is learnt a directive would be issued in this regard very shortly. The increases are estimated as Petrol by Rs 20/- Diesel by Rs 13/- and Kerosene also by Rs 13/- it is learnt.
Sri Lanka purchases crude oil from Iran on a 3 months grace period. The increase affects our crude oil prices owing to the conflicts and barriers USA Government is having with Iran who purchase 70% of their crude oil requirements from Iran. If Sri Lanka had purchased crude oil from another oil supplying country in the Middle East this matter may not have arose.