No change to local fuel prices – Kanchana

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The fuel prices were not reduced, although the fuel price formula was to be utilise from yesterday (1).

Speaking in Parliament, Minister of Power and Energy Kanchana Wijesekara said that although global fuel prices have decreased, it is not possible to reduce fuel prices in Sri Lanka immediately as the country has already imported fuel under previous prices, adding that it is unlikely to see a price reduction owing to current import costs. 

“Although the prices are unlikely to be reduced this time, I am sure that the people will be able to get benefits from the fuel price formula when it is consistently implemented for a long period of time,” the Minister noted.

The Government earlier announced that fuel price changes will be based on the fuel price formula with new prices to be announced on the 1st and 15th of each month.

By Methmalie Dissanayake