Fuel price formula will be abolished: State Minister Rohitha Abeygunewardena

State Minister of Energy Rohitha Abeygunewardena affirmed once again, that the fuel price formula will be abolished. He noted that there is no need for a government to increase and reduce the price of fuel when fuel prices in the world markets change. He added that the government is needed to protect the people, therefore, they will prepare a mechanism that will ensure the people will not be burdened.

When questioned about the fuel price formula, the state minister noted that the previous government was voted out of power, because all the activities they carried out were a failure, therefore, they will not continue their programs.

However, international commodity analysts say, they observed a declining trend in oil prices during the recent past.