.A fuel price reduction will be considered if the present downward trend in fuel prices continues in the world market, Petroleum Minister Susil Premajayantha told Parliament today.
The minister was responding to United National Party (UNP) MP Dayasiri Jayasekara who asked whether fuel prices would be reduced in the local market because of low prices prevailing in the world market at present.
“We will consider it if this situation continues for some time,” the minister said.
He said the Treasury was considering reimbursing Rs.65 billion to the Ceylon Petroleum Corporation, owed by various government institutions.
“Negotiations are underway. We have to recover Rs.65 billion from various institutions for fuel supplied on credit or on subsidized rates. The Treasury has agreed to reimburse the amount,” he said.
But Mr. Jayasekara argued that even though the Treasury did it, the burden would eventually be transferred to people. (K.B&Y.P)