Sri Lanka, March 24 -- The recent increase in fuel prices in Sri Lanka has been implemented strictly according to the official fuel pricing formula, Dr. Mayura Neththikumarage, the Managing Director of the Ceylon Petroleum Corporation (CPC) emphasized.

The CPC Managing Director explained that the government covers certain costs, but the revision in fuel prices itself follows a transparent formula. "This is not an arbitrary calculation," he said. "The formula simply accounts for the cost of procuring fuel and related expenses. Nothing extra is added beyond these costs."

Addressing a media briefing at the Department of Government Information, Mayura Neththikumarage clarified that while the government may subsidize a portion of the cost, t...