After the implementation of the new fuel price mechanism on May 10th, fuel prices will be revised every two months.

Although the price of kerosene have gone up by Rs 57, it will be given at a concessionary price to Samurdhi beneficiaries without electricity supply, estate sector community and other residencies without electricity supply.

The subsidy will also apply to the small scale fisher-folk who use one-day fishing boats.

About 47,555 family units will receive their kerosene subsidy from May 10 and the 1st payment regarding this will be made in June.

Through the Central Bank Treasury, Ministry of Social Empowerment will be issued allocations for the families of Samurdhi beneficiaries to pay for kerosene concessions in addition their usual Samurdhi allowance.

It is estimated that there are 24,282 fishermen island-wide who use outboard motor boats, and they too will receive the subsidy from June.

The cabinet approved new pricing formula is now implemented and it will determine fuel prices bi-monthly, based on the Singaporean fuel price index and the exchange rate.

According to this formula, the local prices will fluctuate in accordance with the world fuel market prices.

As the formula will be executed with transparency, any person would be able to get a better understanding of the fluctuation of fuel prices.