Cabinet Spokesman Minister Vijitha Herath has clarified that the price of fuel cannot be reduced every time the fuel price is revised. He stated that in the most recent revision, reductions were made in the prices of two fuel types, following the global market price formula. However, he emphasized that while the new government had already implemented a fuel price reduction during its first revision and introduced a fuel subsidy for fishermen, these concessions are not guaranteed in every price change.
Minister Herath pointed out that the current government must also consider agreements previously made by the prior administration with fuel marketing companies when determining fuel prices. He noted that as the economy strengthens, there could be room for more concessions, but for now, the government’s decisions are guided by these pre-existing commitments.
The statement reflects the complexity of managing fuel prices amid global price fluctuations and ongoing agreements between the government and fuel distributors. Herath’s remarks also underscore the challenge of balancing fiscal responsibility with public demand for lower fuel prices.
