Price formula for fuel yet to be introduced
The Ministry of Petroleum Resources Development says the government has not taken a policy decision to introduce a price formula for fuel.
Secretary to the Ministry of Petroleum Resources Development Upali Marasinghe however said in the future, the government may introduce a suitable formula to accommodate the constant fluctuation of oil prices in the world market.
He added, despite a recent decision by a private entity to increase prices of fuel, the Ceylon Petroleum Corporation has not increased the prices of petrol or diesel.
He stressed the decision to increase the price of fuel should be made according to government policies.