Neither Fuel Price Reduction Nor Formula For Fuel – Govt.

Neither Fuel Price Reduction Nor Formula For Fuel – Govt.

Cabinet has taken in to consideration several facts before taking a final decision on fuel prices formula and immediate price reduction.

It was revealed that, the UNP  Government introduced similar formula during the year 2001 but failed to obtain expected result. Some of the Ministers pointed out that,this would pave way to introduce formula for other essential items . Hence ,introduction of a formula for fuel was abandoned.Further,it was pointed out that,prices of fuel come down currently but it may go up again .Taking in to consideration all the factors , the Government has decided not to reduce fuel prices immediately.