Foreign media have reported that the price of fuel in the world market will drop by a large percentage within the next few weeks.
The reports further say that due to the sudden drop in fuel prices by a large percentage, people all over the world will feel great relief.
Meanwhile, the reports further indicate that the price of fuel will decrease by about 20 percent.
The reports have also indicated that this is the first time that the price of crude oil has fallen by such a value after the Russia-Ukraine war.
Analysts have pointed out that the Russia-Ukraine war was a strong factor in the recent rise in crude oil prices.
Meanwhile, by last week, the price of a barrel of crude oil had dropped to nearly 67 dollars.
It was the first time that the price of a barrel of crude oil, which had risen to 100 dollars by the year 2021, had fallen by such a value.
Meanwhile, Mr. Kanchana Wijesekera, Minister of Electricity and Energy, said earlier that according to the fuel price formula, the people of Sri Lanka will be given relief in April.
The minister said this while making a statement in Parliament.
