Fuel Price Revision to Be Decided Towards End of Pricing Period: CPC

28-Jul-2026

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The Ceylon Petroleum Corporation (CPC) says it is too early to determine whether fuel prices will be revised next month, as the decision will depend on the average international crude oil price during the remaining days of the monthly pricing period.

Commenting on the matter, CPC Managing Director Dr. Mayura Neththikumar said the recent escalation of tensions involving Israel, the United States and Iran has created uncertainty in global fuel markets, resulting in continued price volatility.

"As fuel prices are determined based on the monthly average international price, it is not possible at this stage to say with certainty whether prices will increase or remain unchanged. There are still four days remaining in the current pricing period," he said.

"The final decision will depend on whether global oil prices rise or fall during the remaining days of the month."

Meanwhile, amid growing concerns that rising tensions in the Middle East could disrupt global energy supplies, international crude oil prices have climbed to US$100 a barrel for the first time since May.

Brent crude, the global benchmark, has risen by more than five per cent following intensified military tensions between the United States and Iran, as well as attacks by Houthi rebels on oil tankers in the Red Sea, raising concerns over the security of the main shipping route used by Saudi Arabia as an alternative to the Strait of Hormuz.