Ceylon Petroleum Cooperation has raised the prices of Petrol and Diesel effective from midnight today. According to CPC octane 90 petrol has raised by Rs 30 per liter, octane 95 petrol by Rs 40 per liter, Diesel by Rs 30 and Super Diesel by Rs 40.
However Mr Fowzie stated that CPC will not immediately raise fuel prices in response to Lanka IOC price hike. Fuel prices are rocketing up in response to huge demand from emerging economies like China, Depression of US Dollar and obstructions to oil production in Nigeria. Many countries like Malaysia has already raised fuel prices despite of protest from public.
Saturday, May 24, 2008
CPC Raises Fuel Prices
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Have you checked your facts? Fuel prices are up because of speculations! OPEC is not upping the production saying there is no demand! So where is the demand you mention coming from? Fuel prices are up because big boys are making money on the wall street!
ReplyDeleteYes, speculation is one thing. But do you believe that OPEC is 100% correct? I agree speculation has a direct impact on fuel prices. But there are more reasons such as dollar depression etc. Yes, they are making huge profits, that the power of Black Gold!
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