Fuel prices may rise from Oct. 1; Govt. plans subsidy
– President Anura Kumara Dissanayake said the government expects to provide a subsidy to cushion the impact of a possible fuel price increase from October 1.Speaking at a public rally in Akuressa today (20), the President said global market prices indicated that fuel prices would have to be increased from the beginning of October under the existing pricing formula.
“According to global market prices, fuel prices need to be increased in October. When we calculate the cost based on imported fuel prices and the pricing formula, prices would have to increase from the first of the month,” he said.However, President Dissanayake said the government would consider providing a subsidy to ease the burden on the public.
“When a major burden falls on the people, it cannot simply be passed on to them entirely. The government has to provide some assistance to ease that burden,” he said.