People will have to fork out more money for usage of fuel from next Monday as there will be a significant price increase.
Retail price for unleaded fuel will increase by 13 cents to $2.50 a litre, Premix outboard fuel will cost $2.47 per litre which is an increase of 14 cents, the price of Diesel will go up by 21 cents to $2.28 a litre and kerosene will cost 20 cents more to $1.88 per litre.
This price increase is due to the increase in crude oil price by 20% from January to March this year.
While making the announcement this afternoon, Attorney General and Trade Minister Aiyaz Sayed-Khaiyum said this price will remain unchanged for the next three months as earlier revealed.
Commerce Commission Chairman Dr Mahendra Reddy said the oil companies have generously agreed that in the next quarter fuel price will only be reviewed if the change is more than 15 cents.
Story by: Ronal Deo and William Waqavakatoga
Fuel prices set to increase
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