Power and Energy Minister Mahinda Amaraweera has sought the advice of the Cabinet on measures to offset the losses suffered due to increasing fuel prices during the recent tense period in West Asia, ministry officials said. They said the minister told the cabinet that the government was losing Rs 10 per litre of all varieties [...]

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Oil price hike: Minister seeks relief

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Power and Energy Minister Mahinda Amaraweera has sought the advice of the Cabinet on measures to offset the losses suffered due to increasing fuel prices during the recent tense period in West Asia, ministry officials said.

They said the minister told the cabinet that the government was losing Rs 10 per litre of all varieties of fuel with the international fuel prices increasing.

In response, President Gotabaya Rajapaksa said the Government would have to reduce the taxes on fuel imports to minimise the losses. The president also ordered to closely monitor the situation and take necessary measures.

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