Fuel prices to be revised today?

It is reported that fuel prices are to be revised today (10) in line with the fuel pricing formula.

The fuel pricing formula was implemented on 10th May 2018 and Minister of Finance Mangala Samaraweera revealed the pricing formula to the public for the first time on October 18.

During the May price revision based on the Cabinet-approved pricing formula a litre of 92-Octane Petrol was increased by three rupees, 95-Octane Petrol by five rupees, and a litre of Super Diesel was increased by two rupees.

However, the price of Auto diesel was not increased during the May revision.

Accordingly a litre of 92-Octane Petrol is sold at 135 rupees, 95-Octane Petrol at 164 rupees and a litre of Super Diesel is sold at 136 rupees in the domestic market.

A litre of Auto Diesel is sold at 104 rupees in the domestic market. A barrel of Brent crude oil that was $71 last month, as of Friday had dropped to $62.