to adopt fluctuating fuel price formula View(s):Multiple revisions on a weekly basis in line with global market trendsBy Damith WickremasekaraThe government will introduce a new fuel pricing formula which could see multiple fuel price revisions within a month based on fluctuations in world oil prices, rather than the monthly review system in place now. The new formula will calculate prices based on actual data from the preceding month; hence, consumers will have to benefit from fuel price drops almost with immediate effect without having to wait for monthly revisions. The decision has been taken in view of the volatile world oil market following the conflict in West Asia. President Anura Kumara Dissanayake announces this week that at the next fuel price revision, a subsidy of up to Rs 100 per litre of diesel would be provided, calculated against the actual cost. Global oil prices remained high on Friday ahead of negotiations between the US and Iran over the weekend in Pakistan, amid uncertainty whether the two-week ceasefire between the two countries will hold.

Source: Sunday Times April 11, 2026 13:04 UTC