Fuel prices will have to be revised - Minister

Co-Cabinet Spokesman, Minister Ramesh Pathirana says the fuel prices will have to be revised in Sri Lanka due to the current developments in the international arena.

Addressing the media briefing to announce Cabinet decisions this morning (Feb. 22), the minister said a rapid increase in fuel prices is observed in the global market against the backdrop of the tensions between Ukraine and Russia.

The Ceylon Petroleum Corporation continues to sell fuel at current rates while incurring a huge loss, the minister explained, adding that the government is yet to take a decision on revising the fuel prices.

However, such revision is expected to be made soon, he added.