Minister of Trade and Commerce, Vasantha Samarasinghe, stated today (02) in Anuradhapura, while addressing the media, that fuel prices will be adjusted according to the pricing formula and that actions will be taken accordingly.
Further expressing his views, the Minister stated that the electricity tariff for industries has been reduced by 30%, providing relief to consumers as well. Therefore, as a government, steps are being taken across all sectors to provide relief to the people. The government is working under a plan to protect both institutions and the public while moving forward to make the country a prosperous nation.
“Fuel price adjustments according to the fuel pricing formula- Minister Vasantha Samarasinghe”
In this regard, fuel prices fluctuate based on a pricing formula. As a result, fuel prices will change on a monthly basis. When global oil prices rise, local fuel prices will also fluctuate accordingly. Price adjustments are made in line with this pricing formula. Whether we like it or not, we are now following this formula, and necessary revisions and fluctuations will occur accordingly.
