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Friday, 10 August 2018 - 9:07
Decision on fuel price revision to be taken today ?
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The committee which was appointed to decide on fuel pricing in accordance with price fluctuations in the world market, meet this afternoon to discuss the local fuel price.
 
The committee includes the secretary to the Ministry of Petroleum Resources Development, Treasury Deputy Secretary and two Treasury directors.
 
According to the world market, the price of a barrel of Brent crude oil fetched 73.3 US dollars yesterday.
 
In the Singapore market, the prices of a barrel of petrol and diesel were 83.3 and 86.17 US dollars respectively.
 
The Finance Ministry, in accordance with the fuel price formula introduced last May, increased petrol and diesel pricing on 10th of July.
 
According to that formula, the price of Octane Petrol 92 and 95 and were increased by Rs. 8 and 7 rupees per litre.
 
The price of diesel and Super Diesel were increased by Rs. 9 and 10 respectively.
 
Sources state that as a consequence of the world market fuel price increases, a price revision corresponding to that chance will be made.
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