Cabinet Spokesperson Minister Vijitha Herath announced that this decision is part of a proactive strategy by the government to mitigate the impact of rising oil prices in the local market.
Minister Herath explained that the committee is currently reviewing recommendations based on an observation report submitted by the Ceylon Petroleum Corporation (CPC).
“With the escalating conflict in the Middle East, there is a significant risk of oil price hikes. The Ceylon Petroleum Corporation has already provided an observation report on the situation. This newly formed committee will actively intervene and develop strategies to control oil prices in Sri Lanka should such a scenario arise,” Minister Herath stated.
