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New dates set for fuel price revision

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New dates set for fuel price revision. According to the Ministry of Energy, the current trend in global market pricing points to a future decline in fuel prices.

According to Minister Kanchana Wijesekera, it is anticipated that the next revision to fuel prices may also result in a drop in fuel prices.

The Minister added that the Ministry has made the decision to notify modifications to fuel prices twice a month.

He said it has been decided to notify fuel price changes on the first and fifteenth of every month.

On Friday, July 15, 2022, a court ruling enabling fuel wholesalers to obtain a 3 percent commission had been overturned.

The likelihood of a decrease in fuel costs was then indicated when the fuel pricing formula was used to determine fuel prices without the commission to distributors.

According to him, the price reduction achieved through the fuel price formula only applied to diesel and petrol.

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