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Wednesday, 27 June 2018 - 18:01
Cabinet approves pricing formula for fuel
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The cabinet of Ministers has approved to introduce a cost-based price formula for fuel.

It will be executed with effective from 11th May.

Accordingly, fuel prices will be updates before 5th day of the third month based on the international prices of previous two months.

A committee consisting of the officials of Treasury and Ministry of Petroleum Resources Development will be appointed to maintain the transparency of methodology.

The committee will come up with recommendations to update petrol and diesel price for a period of three months on 5th day of the third month.
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