The requirement of a mechanism to decide the sale price of petroleum products owing to a scientific methodology so that all the cost factors / components are exemplified with transparency for deciding the local sale price of petroleum products has been identified. Through such a methodology, building the trust within the consumers as well as building positive effect for financial constraints confronted by the Lanka Petroleum Corporation can be created.

Accordingly, the cabinet of ministers granted approval for the proposal submitted by the Minister of Power and Energy to appoint a committee comprised of representatives of the Minister of Power and Energy pioneering while representatives of other relevant institutions in order to furnish appropriate recommendations to enable deciding the production price of petroleum products on monthly basis paying attention on six (06) major cost components as well as to revise the price of petroleum monthly as per the mechanism prepared based on the above mentioned recommendations.