July 26, Colombo: The Petroleum Ministry of Sri Lanka would not increase the fuel prices despite a hike in Iranian crude oil.

Secretary of the Petroleum Ministry Dr. H.M.S. Samaratunge has told the media that the increase in global fuel prices was not high as that experienced a few months back and assured that there would not be an immediate increase local fuel prices.

He has observed that the rising tension in the Middle East and Syria would not have a positive impact on the global fuel prices.

However, Dr. Samaratunge has noted that an energy subcommittee is currently working on an 'energy mix' programme to be applied locally.

He has said the programme would be completed in four months and that it was necessary since the consumption of petroleum products in Sri Lanka has doubled during the last three years with the petroleum bill equaling to about 45 percent of the total export proceeds.