‘Public will benefit from reduced world oil prices’

2020-02-14 at 12:11

The government says the benefit of reduced oil prices in the world market will be granted to the public.

The price of a barrel of crude oil has reduced in the world market owing to the coronavirus.

Minister of Power and Energy Mahinda Amaraweera said if the pattern continues, its benefit will be granted to the public.

However, the Minister said the price reductions are temporary.

Minister Amaraweera noted in the past few months the government had provided fuel at a loss as prices had not been increased, although it was meant to be increased by Rs.12.

The Minister further noted that there is an opportunity at present to reduce prices by a very small sum of about Rs.1 to Rs.2.

He expressed hope to reduce fuel prices in a couple of days adding there was no point in reducing prices if it had to be increased again in a week.