The fuel price increase this time was due to the fact that the price of crude oil in the market last month was slightly higher than the price last month, said Janaka Rajakaruna, Chairman of the Ceylon Petroleum Corporation.
He stated that the price of crude oil in the world market increased last month due to the war situation in the Middle East, and that a diesel ship had to be purchased at the increased price during that period, and that this situation had a strong impact on the price increase.
He said that the Ceylon Petroleum Corporation will forward the data related to the fuel price formula to the ministry and then decide on the fuel price. He expressed these views while addressing a media conference held in Colombo.