Fuel price revision to be discussed at Cabinet

Fuel price revision to be discussed at Cabinet

July 10, 2018   10:26 am

The Ministry of Finance says that the Cabinet will take a decision regarding the fuel price revision, today (10).

Fuel prices were increased with effect from midnight on July 05th, with regard to the new fuel price formula introduced by the Finance Ministry. 

However, the government later decided to halt the fuel price hike.

Finance Ministry points out that, the new fuel price formula requires fuel prices to be revised every two months, in accordance with the prices of the world market.

As the fuel price formula introduced by the Finance Ministry has received the Cabinet approval, the implementation of the formula will be discussed at the Cabinet meeting today.

Accordingly, a final decision regarding fuel price revision will be taken today, said government sources.

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