Govt. to adopt fluctuating fuel price formula

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Apr 12, 2026
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Multiple revisions on a weekly basis in line with global market trends

By Damith Wickremasekara

The government will introduce a new fuel pricing formula which could see multiple fuel price revisions within a month based on fluctuations in world oil prices, rather than the monthly review system in place now.

The Cabinet has given approval for the new formula, which will come into effect from May, Foreign Affairs Minister Vijitha Herath told the Sunday Times.

Accordingly, constant monitoring of the prices will take place with the possibility of considering revisions on a weekly basis.

“If world prices are reduced in one week, Sri Lanka will adjust the prices accordingly and similarly, if the prices go up next week the local prices too will be increased,” he said.

Read more in today's Sunday Times edition here