Min. Amunugama comments on the fuel price formula

Colombo (News1st): Minister of Science, Technology, Research, Skills Development & Vocational Training (Dr.) Sarath Amunugama commented on the factors determining the fuel price following an event at the Technical College in Hasalaka yesterday (September 14). He spoke about this when a journalist questioned him about the complicated puzzle of fuel price formula. Minister (Dr.) Sarath Amunugama stated that there are certain variables that determine the price of fuel and using these variables, a formula has been developed by the Finance Ministry and the Central Bank. He added that apart from these variables, there might be other external factors that influence the price of fuel. Prices have been increased during previous regimes as well, said the Minister adding that the price of fuel has also been higher than the current price in those regimes.