Fuel price relief likely as global oil prices decline: Govt.

Colombo, June 26 (Daily Mirror ) - The government is expecting to provide relief to consumers as global fuel prices continue to decline, Deputy Minister of Finance and Planning Dr. Anil Jayantha Fernando said today.

Speaking at a media conference at the Department of Government Information, Dr. Fernando said the government had so far provided a fuel subsidy amounting to Rs. 57 billion, with the subsidy programme scheduled to end this month.

He said the government would take a policy decision on whether the subsidy could be reintroduced, while emphasising that it does not intend to place an unnecessary financial burden on the public.

The Deputy Minister said domestic fuel prices had to be increased slightly following the sharp rise in global crude oil prices triggered by the conflict in the Middle East.

However, he noted that international fuel prices have begun to decline again, adding that consumers would benefit once fuel purchased at the lower global prices reaches Sri Lanka.