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Petrol, furnace oil down

by Rashomi Silva

The prices of petrol and furnace oil were decreased by two rupees from yesterday midnight, the Ceylon Petroleum Corporation announced.

This price reduction was introduced considering the declining trend of petroleum prices in the international market, CPC chairman Daham Wimalasena told the Daily News. These rates will be applicable for all filling stations islandwide. However, the rates of the Indian Oil Company (IOC) owned filling stations will be decided by IOC once they start functioning officially.

The IOC has taken over 100 filling stations earlier managed by CPC. Thirteen of the outlets are in Colombo. They will be officially inaugurated next week by the Indian Petroleum and Natural gas Minister, the CPC said. Wimalasena said they were able to bring down the prices due to subsidies the government has offered. The CPC had sold petroleum products at a lower rates than the international market prices, in the recent past but claimed that they were not reimbursed by the Treasury as the government had promised.

Prices of Diesel and Kerosene were not decreased as the rates of these products were not increased over the past six months, a CPC spokesperson explained.

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