The Ceylon Petroleum Corporation has indicated that consumers will benefit from declining global oil prices during the next scheduled fuel price revision, expected in two days.

The Ceylon Petroleum Corporation (CPC) has announced that it will pass on the benefits of falling crude oil and refined fuel prices to the public in its next price adjustment, scheduled for the day after tomorrow. According to the CPC, global market conditions have become more favorable for consumers, with crude oil prices declining in recent weeks.

Current international benchmark prices reflect the downward trend. Brent crude oil, the key reference point for global markets, is trading at $86.66 per barrel, while crude oil in the American market stands at $81.73 per barrel. The CPC attributed the recent volatility in global market fuel prices as the primary factor prompting the review of domestic rates.

The upcoming revision marks an effort by the state-owned petroleum corporation to align Sri Lankan fuel prices with international market movements. While the CPC has signaled the direction of the adjustment, the exact magnitude of the price reduction has not yet been specified.