The Ceylon Petroleum Corporation has rejected claims that crude oil was purchased above USD 286 per barrel.

Chairman D. J. Rajakaruna stated that crude oil shipments were procured at USD 66.99 and USD 71.99 per barrel in March and April.

He noted that diesel, however, was purchased at higher global prices ranging between USD 288 and USD 303 due to the Middle East conflict.

The CPC stated that claims regarding crude oil prices arose from misinterpretation of a statement by HSBC.