Cabinet gives green light for Fuel Price Formula

Sri Lanka: Cabinet gives green light for Fuel Price Formula

by Zulfick Farzan 24-05-2022 | 4:49 AM

COLOMBO (News 1st); Sri Lanka's Cabinet of Ministers has given the green light for a fuel price formula, tweeted Energy Minister Kanchana Wijesekera on Tuesday (24).

He said the fuel pricing formula that was approved by the cabinet was applied to revise the prices of fuel with effect from 3 AM on Tuesday (24).

"Price revision includes all costs incurred in importing, unloading, distribution to the stations and taxes. Profits not calculated and included," he added.

The Minister noted that the Cabinet also approved the revision of transportation and other service charges accordingly.

The formula will be applied every fortnight or monthly, he added.

He went on to note that the public sector workforce will be called to work on the direction of the head of the institute from today.

Work from home will be encouraged to minimize the use of fuel and to manage the energy crisis, he added.

Revised fuel price: