The government has appointed a special committee to evaluate and manage possible oil price increases due to the ongoing conflict in the Middle East, Cabinet Spokesperson Minister Vijitha Herath announced.
This move aims to mitigate the impact of rising oil prices on the local market. The committee is reviewing recommendations based on a report submitted by the Ceylon Petroleum Corporation (CPC).
“With the ongoing conflict in the Middle East, there is a considerable threat of rising oil prices. The Ceylon Petroleum Corporation has already submitted an observation report on this issue. The newly established committee will take proactive measures and formulate strategies to manage oil prices in Sri Lanka if such a situation arises,” said Minister Herath.
