Fuel prices to reduce at next price revision?

The Minister of Power and Energy Kanchana Wijesekara says the fuel prices will be revised the 1st and 15th of every month in accordance with the pricing formula.

Joining the “Derana 360” program, he stated that a reduction in fuel prices is possible at the next price revision, in view of the current situation.

Minister Wijesekara also mentioned that the police have informed all three-wheeler owners to register their vehicles with the police stations of their respective areas over the next few days and to nominate one of the nearest filling stations before 31st of July.

 He further mentioned that the three-wheelers will only be allowed to obtain fuel through their registered filling stations in the future, adding that there is also a challenge in obtaining fuel to Sri Lanka.

Moreover, he stated that out of the fuel shipments which were ordered last month and payments were settled for, two diesel shipments have already arrived and been added to the prevailing fuel reserves.

Speaking further, he said, “unloading of two petrol shipments started on July 23. Unloading operations of a furnace oil shipment is meanwhile taking place at the moment. Also, there is a vessel carrying a diesel consignment anchored in the country’s maritime border. If we have the required amount of money to pay [for them], we don’t have to keep them waiting, paying charges for delayed payments.”

He also mentioned that the discussions were underway on Sunday evening, and orders for six more shipments are being processed.