A fuel pricing formula devised by the Power and energy sector is effected with the approval of the Cabinet of Ministers, tweets Energy Minister Kanchana Wijesekara.

The pricing formula will be revised on a fortnightly or monthly basis depending on all other factors that may influence fixing the fuel prices. The Minister said.

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The factors that influenced today’s fuel price were the importation cost, costs incurred in unloading, distributing and the government taxes, the Minister has said.