Petrol price hike likely

The trade ministry will likely increase retail petrol prices if crude oil prices on the world market surpass the US$50 a barrel mark said a government document September 27.

According to the document, in case the price of crude oil drops, the finance ministry will “carry out adjustments on duties of petrol imports to ensure that sources of revenue for the state remain sufficient and petrol enterprises continue running profitably”.

The document was issued by the ministries of trade and finance.

 

Category: Business