Sri Lanka is on the verge of a significant change in fuel prices, following a decision by the Ceylon Petroleum Corporation (CPC) to reduce its profit margins. This decision is expected to bring considerable relief to consumers across the country.
Currently, multiple fuel companies operate within Sri Lanka, but consumers have not felt any substantial relief, prompting public outcry. In response, a senior official from the Ministry of Energy announced that the government plans to implement a major reduction in fuel prices in the coming weeks.
The next monthly fuel price revision is scheduled for the 30th of this month. Coinciding with this, global fuel prices have seen a decline. According to foreign media reports, Brent crude oil is currently priced at $84.71 per barrel, while WTI crude oil stands at $80.33 per barrel.