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If formula implemented, fuel prices can be reduced by Rs.20 per litre

10 March 2020 12:26 pm - 11     - {{hitsCtrl.values.hits}}

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Former Finance Minister Mangala Samaraweera today said that if the fuel price formula was implemented, all types of fuel could be reduced by Rs.20 per litre from March 10.

He said, during the ‘Yahapalana’ Government, that fuel prices were revised on the 10th of every month in accordance with the fuel price formula to give maximum benefit to the consumers of the country, comparing prices in the world market.

“When I introduced the fuel price formula, we promised to pass the benefit of world oil price fluctuations to the consumers by reducing the oil prices in the local market. Now the international oil price has come down to USD 45 per barrel from USD 65 and the fuel price was last revised in September 2019,” Mr. Samaraweera said. 

Likewise, he said the government had also introduced a price formula for another essential commodity, domestic gas. 

“As a result, the price of a 12.5 kg gas cylinder sold for more than Rs. 2,000 in 2015 has been reduced to Rs. 1,500,” he said. 

Types of fuel 
Previous price 
Rs/Litre
Revised price on September  10, 2019
Rs/Litre
Price which should be revised on March 10, 2020
Octane 92 Petrol 138 137 117
Octane 95 Petrol 163 161 141
Auto Diesel 104 104 84
Super Diesel 134 132 112

 

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  Comments - 11

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  • mp Tuesday, 10 March 2020 12:34 PM

    Yes, yes, you reduced everything, by mouth.

    Dee Tuesday, 10 March 2020 12:43 PM

    Keep quiet please! We are now prepared to stomach any price increase by the patriotic government!!

    Ralahamy Tuesday, 10 March 2020 12:49 PM

    Is there a rule that others should follow you, just because you ate the Dirachcha Lanuwa? These guys have their own priority. Simple as that.

    Anmanpan Tuesday, 10 March 2020 12:57 PM

    Uncle, I studied arithmetic at school and vector calculus at College. The crude price is down 50%. Why just Rs.20. Either someone is pulling you little leg or a flawed equation.

    Suresh De silva Tuesday, 10 March 2020 01:30 PM

    Go fly a kite mister you

    Buruwa Tuesday, 10 March 2020 01:55 PM

    DR. Bandula (Mr. 2500) over to you !

    Upali Jayasekera Tuesday, 10 March 2020 02:04 PM

    At the same time prices would havee been up during last three months if the formula was applied.

    Varuna Tuesday, 10 March 2020 02:58 PM

    Don't worry. The prices of fuel will be reduced just days before the General Election to woo votes to the present regime.

    Kusal Tuesday, 10 March 2020 03:33 PM

    To all you nay saying idiots. Mangala had a working formula. Amare will reduce the price just before elections and all you suckers will be happy until after. Good luck morons

    ram Tuesday, 10 March 2020 04:06 PM

    fuel price will be given free of charge just days b 4 oncoming election. sri lankans are intelligent and educated.

    Siva Wednesday, 11 March 2020 06:42 AM

    Sometimes government inefficiencies result in a boost for government and corporations in their revenue collection.


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