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Crude oil prices on the decline

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Fuel and crude oil prices have decreased again in the world market, international media reported.

Accordingly, the price of a barrel of Brent crude oil for the month of December has decreased by 1.1% and its price was stated as USD 97.07.

The price of West Texas Intermediate crude oil is USD 91.84 per barrel.

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W.M. Mendis’ liquor manufacturing license to be suspended

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The liquor manufacturing license issued to W.M. Mendis & Co. Limited will be suspended from tomorrow (December 5) due to their failure to pay Rs. 5.7 billion in excise taxes and surcharges, the Excise department said.

Accordingly, as per the provisions Excise Ordinance Act, the Commissioner General of Excise has ordered to suspend the liquor manufacturing license issued to W.M. Mendis & Co. Limited effective from tomorrow.

The department further stated that measures have been taken to suspend the liquor manufacturing process from tomorrow (December 5) and to not renew the other licenses issued to the company from December 31 onwards if the company continues non-payment of tax arrears and surcharges. 

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No change in Litro Gas prices for December

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The Litro Gas Company says that the prices of its domestic LP Gas cylinders will remain unchanged for the month of December 2024.

Chairman of Litro Gas – Channa Gunawardena stated that the company decided to keep the prices of LP gas cylinders unchanged despite the price hike in the global market, in order to provide relief to the consumers.

Accordingly, the prices of Litro LP gas domestic gas cylinders will remain unchanged as follows:

12.5kg – Rs. 3,690
05kg – Rs. 1,482
2.3kg – Rs. 694

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Special Commodity Levy on big onions, slashed

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The Special Commodity Levy imposed on imported big onions, has been reduced by Rs. 20 to Rs. 10 per kilogram.

This will be in effect during the period from today (Dec. 01) to December 31, 2024.

However, it has been decided to keep the Special Commodity Levy imposed on imported potatoes unchanged.

Announcing the decision, a media release issued by the Ministry of Finance, Planning and Economic Development states that the move comes amid a notable rise in the market price of onions.

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