Fuel Price Revision committee meets today

Fuel price formula in Sri Lanka

The price formula committee is scheduled to meet this evening for the monthly fuel price revision, the Finance Ministry said.

This committee, convening on the 10th of every month, revises the prices of fuel according to the prices of the global oil market and the fuel price formula.

However, since the 10th fell a public holiday this month (August), the committee did not convene on that date. As yesterday (12), too, was a public holiday, the Committee will be convening today.

Last month the price of petrol (Octane 92) was increased CPC by Rs. 3 a litre, while LIOC increased it by Rs. 7 in addition to increasing Petrol Euro III also by Rs. 7.

The CPC is now selling Petrol (Octane 92) at Rs.138 a litre and other fuel prices remained unchanged.

The price of Lanka kerosene will also remain at Rs. 70 a litre.