Crude oil price further surges. Fuel Price Formula enacted?

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The crude oil price has surged again in the global market, exceeding the US$ 124 price margin of a barrel of crude oil.

Crude oil prices have been indicating a rise in the global market over the past month and fuel prices in the domestic market have also been rising simultaneously.

Nevertheless, fuel prices are likely to increase again this month given that the Subject Ministry has announced that fuel prices in the domestic market will respond to a ‘fuel price formula’ in compliance with the global market.

MIAP

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