No change to fuel price revision method – Power & Energy Ministry

The Ministry of Power and Energy states that there will be no change in the fuel price revision method, according to the price formula.

The price formula is being continued in the same way since the fuel prices should be revised in accordance with the price fluctuations in the world market, said the Ministry.

Filling station owners and the distributors allege that the price revision done on the 1st and 15th of each month under the fuel price formula is not fair.

In view of the situation, fuel queues were emerging near filling stations within the last few days due to lack of fuel in them, since the filling station owners had been delaying the ordering of fuel in anticipation of a decrease in the fuel price.

However, the filling station owners had taken steps to place orders for fuel, after the Minister of Power and Energy Kanchana Wijesekara declared that the fuel price revision that was scheduled to be done on November 01 will not happen.

Accordingly, the Ministry of Power and Energy mentions that fuel distribution has been normalized within filling stations across the country.

Meanwhile, the President of All Island Three Wheeler Drivers’ Union, Lalith Dharmasekara expressed his appreciation for the increase in fuel quota allowed for three-wheelers.

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