Government insists will not continue with fuel price formula

The Government today insisted that it will not continue with the fuel price formula of the previous regime.

State Minister of Development Banking and Loan Schemes Shehan Semasinghe tweeted saying the Government will not introduce a new fuel price formula or continue with the one introduced by former Finance Minister Mangala Samaraweera.

“Fuel pricing formula introduced by the previous govt will NOT be followed by @GotabayaR or new formula will NOT be introduced,” Semasinghe tweeted.

There were reports the new Government was considering continuing with the fuel price formula.

The formula saw a fuel price revision every month. (Colombo Gazette)

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