Fuel prices to decrease?

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Minister of Power and Energy Kanchana Wijesekera has hinted at a potential reduction of fuel prices with the upcoming price formula revision.

A common fuel price formula was set for both Ceylon Petroleum Corporation (CEYPETCO) and Lanka IOC earlier this year, which is reviewed on the 01st and 15th of every month.

Accordingly, Wijesekera noted that he expects for there to be a decrease in fuel prices, parallel to those evident within the global fuel market, at the review schedule to take place on 01 August.

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