Fuel Prices Could Be Revised by End of September - Energy Minister

Energy Minister Anura Karunathilaka has said fuel prices could be revised by the end of September, taking into consideration the increase in global fuel prices and the prevailing situation in the Middle East.

The Minister made the remarks today (September 14) while responding to questions from journalists regarding the fuel shortage reported by several fuel distribution companies.

He noted that despite the recent increase in international fuel prices, fuel is currently being sold in Sri Lanka at a comparatively low price.

Karunathilaka said several private fuel distribution companies had informed the government that it was becoming challenging for them to continue operations under the prevailing conditions.

He said the government would hold discussions with representatives of the companies before arriving at an appropriate decision.

The Minister said several options were being considered to address the fuel shortage and the impact of rising prices. These include government intervention through a fuel subsidy, as done in the past, or revising domestic fuel prices.

He added that although private fuel companies had submitted various proposals, any final decision would also take the interests of consumers into consideration.

Karunathilaka emphasized that petroleum prices are reviewed at the end of every month based on prevailing market conditions and the concerns of all stakeholders.

Accordingly, the government will assess the situation and take the necessary measures regarding fuel prices at the end of September, he added.