Fuel Pricing Formula Sent to Cabinet…..

Fuel Pricing Formula Sent to Cabinet…..

Ceylon Petroleum Corporation has sent the fuel price fixing formula to the Cabinet to obtain Cabinet approval. In this paper it was clearly indicated the price revision on fuel prepared by the general treasury, said a senior treasury spokesman.
Once cabinet approval is received, Finance Ministry is expected to implement the pricing formula as from this month. It is relevant to mention here that the Secretary to the Petroleum Ministry earlier said that fuel prices should be increased.
New prices are expected to be implemented after the end of Sinhala and Tamil New Year.