Global crude oil hit its lowest level in more than two years to be pegged at US$61.52 on Friday while the OPEC Basket was trading at $60.27, according to Central Bank (CB) figures. However industry analysts said the Ceylon Petroleum Corporation will, despite these sharp falls, not change prices as local prices are adjusted according to a range of issues – with only one being international price levels.
According to the CB, the last time it was traded at these levels were in March 2007 ($59.91) and April 2007 ($65.91). In the refined products market in Singapore, petrol was trading at $64.60, diesel at $77.40 and kerosene at $83.15 |
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