Commenting on the dramatic decrease of world crude oil prices, Minister of Petroleum Resources Development Chandima Weerakkodi recently told media that a pricing formula had been designed to provide the advantage of crude oil price fluctuations in world market to the public. 

He also said a cabinet paper would be tabled for approval and people will be provided the benefits according to government policies.

The lowest price for crude oil in world market after 11 years was reported yesterday.

The price of Brent Crude fell to $36 per barrel.

Global oversupply said to be the reason behind the driven down price of crude oil.