Revised fuel prices to be announced today

COLOMBO (News 1st) -  The Ministry of Finance states that the revised fuel prices will be announced today (Feb 11). The fuel prices are based on the pricing formula considering international fuel prices. A spokesperson for the Ministry said that the committee to discuss the price formula will convene this evening (February 11). The spokesperson noted that the price increase would be based on an increase of USD 10-15. The fuel prices decreased last month though the price of a barrel of crude oil in the Brent market, Singapore had increased. The price of a barrel of crude oil is now about USD 62.10. As per the fuel price formula, last month the price of a liter of Octane 92 and Octane 95 petrol decreased by Rs. 2 while the price of a liter of Diesel and Super Diesel decreased by Rs. 2 and Rs. 3 respectively.