Fuel prices increased to address forex issues

COLOMBO (News 1st); Fuel prices were increased on Tuesday (21) as a measure to address the foreign exchange crisis, said the Cabinet Spokesperson.

Cabinet spokesman Minister Dullas Alahapperuma said that a discussion will be held at the next Cabinet meeting on the concessions to be provided to the public who have been severely affected due to a hike in fuel prices.

He said the decision to increase fuel prices was made following discussions with the Central Bank and the Finance Ministry.

"Fuel prices were increased as one step to address the foreign exchange crisis," he said.

Minister Alahapperuma further pointed out that when the late politician Mangala Samaraweera had proposed a fuel pricing formula, the proposal had been ridiculed.