Jan 19, Colombo: Sri Lanka's Public Utility Commission Chairman Dr. Jayatissa de Costa has announced that the Commission would take over the powers of deciding the petroleum prices.

He said the Public Utility Commission Act would be amended to take over the powers and the amendment would take place within this year.

The permission of the Attorney General in regard of the amendment has already been sought.

The Public Utility Commission, which answers only to the parliament, has been established to regulate all the utilities to ensure safe, reliable and reasonably priced infrastructure services for consumers in an equitable and sustainable manner.