The Minister of Petroleum and Petroleum Resources
A.H.M.Fowzie told Parliament yesterday (15) that the government would
reduce the cost of fuel further by next month.
Answering a question from JVP Colombo District member
Sunil Handunnetti the minister said the prices of crude oil in the world
market were coming down and that benefit to the consumers and the price of
a barrel of crude oil at present was 59 US Dollars and not 49 US Dollaras
as member Handunetti said.
The Ceylon Petroleum Corporation had been given the relief
of credit on oil purchases from Iran for four months without interest and
a further three months credit on low interest rates during the period of
the oil crisis. The profit to the government from a litre of petrol was
only Rs.2.50 the minister said.
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