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Sri Lanka’s up to March petroleum import bill jumps to US$ 1.42 billion Vote_lcap68%Sri Lanka’s up to March petroleum import bill jumps to US$ 1.42 billion Vote_rcap 68% [ 178 ]
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FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » Sri Lanka’s up to March petroleum import bill jumps to US$ 1.42 billion

Sri Lanka’s up to March petroleum import bill jumps to US$ 1.42 billion

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Redbulls

Redbulls
Director - Equity Analytics
Director - Equity Analytics

Sri Lanka’s petroleum import bill during the first quarter of this year has gone up by 43.4% year on year to year, to incur a sum of US$ 1.42 billion.

This is compared to US$ 996.7 million the country spent during the same quarter last year.

Meanwhile during March this year, the country’s petroleum import bill has gone up by 16.4% year on year incurring a bill of US$ 408.6%.

This is compared to US$ 351 million spent during March 2011.

Central Bank says, the increase expenditure on petroleum imports during March 2012 came as a result of the high average crude oil import price.

Accordingly a barrel of crude oil in the world market has gone up to US$ 125.39 from US dollars 111.31 per barrel in March 2011.

This also has resulted in the expenditure on imports of refined petroleum products too increasing by around 18% as a result of higher prices.
http://www.news360.lk/economy/news-31-05-2012-sri-lanka%E2%80%99s-up-to-march-petroleum-import-bill-jumps-to-us-1-42-billion-6754

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