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| Sunday, 4 September 2005 |
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| News Business Features Editorial
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No fuel price hike by Rashomi Silva Petroleum prices will remain stable in the Sri Lankan market despite the international price fluctuation following Hurricane Katrina that tore through the gulf of Mexico hurting US oil productions. According to a spokesperson of Ceylon Petroleum Corporation (CPC) Crude oil prices have shot up by 50 percent since the start of 2005, continuing its dramatic run from last year, but this time the CPC has decided to absorb the price hike without passing it on to the already burdened consumer. Meanwhile on Friday oil prices started declining for the first time in a week, after some pipeline on the US gulf coast restarted operations shut in the wake of Hurricane Katrina, US government sites said. |
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