- Last Update 2024-08-31 22:06:00
Fuel price formula may be revised: President
President Maithripala Sirisena says the Government may revise the fuel price formula because, “unfortunately” since its introduction, the prices have moved only upwards.
Addressing senior journalists today, the President said oil price formulas were being followed in many countries but in Sri Lanka there were complaints that it was not working the way it should.
He said many people had complained to him about the problems stemming from the formula and wanted it revised to reflect Sri Lankan realities.
He added he hoped that in the upcoming budget, there would be an announcement regarding this.
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