Apr 10, Colombo: Sri Lanka's Finance Ministry on Wednesday announced that it will not revise fuel prices this month according to the fuel price formula.
Minister of Finance Mangala Samaraweera says fuel prices will not be revised this month in order to provide relief to the public during the festive season, despite the continuously rising fuel prices in the international market.
While the price of fuel in the international market is continuing to rise, the price of a barrel of crude oil sold at US$ 67 in March has risen to US$ 74 today.
Although the global fuel price increased, the government has decided not to increase the fuel prices in order to provide relief to the people during the festive season.
During the last fuel price revision on March 10, considering the festive season the fuel prices were increased only slightly relative to the increase in global prices.
The fuel prices are revised on the 10th of every month based on the global market prices prevailing at the time.