Finance Ministry to decide on fuel price hike today

Colombo (News 1st) - A decision on whether or not fuel prices will be increased, in accordance with the pricing formula, is expected to be made today (October 10). The Ceylon Petroleum Corporation said the relevant statistics have been handed over to the Finance Ministry. Due to the increase in world fuel prices and the depreciation of the rupee against the US dollar, the CPC says that they are been forced to bear a loss of Rs. 15 per liter of diesel and petrol since the 10th of September.